Apparently, it is no secret around the globe that real estate in the United States is good investment right now. The National Association of REALTORS (NAR) has reported that real estate purchases by foreign buyers increased by $16 billion dollars this year. That is one of the largest increases in years.
The “year” that the NAR uses in its survey ends in March, and the year ending March 2011 saw $82 billion in foreign sales — $16 billion more than the year ending March 2010.
That represented less than 8% of the total existing home sales for that period, which were approximately $1.07 trillion dollars. With numbers like that, don’t believe anyone who tells that no one is buying or selling. Somebody is.