Incorporating fresh data, Coldwell Banker
offers a revamped, comprehensive guide to purchasing U.S. real
estate
MADISON,
N.J., Nov. 16, 2023 /PRNewswire/ -- Coldwell
Banker Real Estate LLC, a subsidiary of Anywhere Real Estate Inc.
(NYSE: HOUS), released the latest "The International Buyer's
Guide to Purchasing U.S. Property." This robust collection of
guidelines offers international buyers a wealth of tips and best
practices to purchase property in the
United States.
Serving as an invaluable resource for Coldwell Banker affiliated
agents, The International Buyer's Guide also acts as a powerful
marketing tool, facilitating global referral business.
Key features in The International Buyer's Guide
include:
The Current Real Estate Landscape
After years of record home sales and price appreciation, the
U.S. housing market has experienced unit contraction and a
deceleration of appreciation. Higher interest rates coupled with
historically low housing inventory and resilient home prices has
impacted domestic buyer activity. The median existing-home sales
price grew 2.8% from one year ago to $394,300, marking the third consecutive month of
year-over-year price increases.1
International buyer activity has also experienced a contraction.
Between April 2022 and March 2023, the number of existing homes
purchased by international buyers fell to its lowest level since
tracking for foreign buyer purchases began in 2009 – a 14% decline
from the prior period.2 Additionally, the dollar
volume of international buyer purchases decreased modestly to
$53.3 billion.
- Home Purchases: International buyers accounted for
84,600 of existing home purchases.
- Cash Offers: 42% of international buyers paid all-cash
for a U.S. property, compared to 26% among all existing home
buyers.
- Real Estate Investment: 50% of international buyers
purchased property for use as a vacation home, rental or both in
the United States.
Top Destinations
Florida, California, Texas, Arizona and North
Carolina are this year's top five U.S. states attracting the
greatest number of international home buyers. Major cities such as
New York and Los Angeles have historically drawn
international investment, however affordable secondary cities,
suburbs and inland housing markets now present enticing, "hidden
gem" opportunities.
Partnering with a Trusted Consultant
For a seamless transaction from start to finish, it's imperative
that all buyers work with a trusted agent in their dream
destination. Coldwell Banker® affiliated agents are
available to provide their expertise to international buyers during
each step of the process, offering around-the-clock support to
address unique challenges and help secure their dream home.
QUOTES:
"Homebuying can be a stressful and complex process, and even
more so for the international buyer. This year, we're elated to
provide a refreshed instructional guide that demystifies the
process of acquiring real estate in the U.S. The 'International
Buyer's Guide to Purchasing U.S. Property' provides an expansive
catalog of best practices, tips and recommendations for buyers when
thinking about their next purchase."
- Jason
Waugh, President of Coldwell Banker Affiliates
About Coldwell Banker Real Estate LLC
Powered by its network of 100,000 affiliated sales professionals
in more than 2,700 offices across 39 countries and territories, the
Coldwell Banker® system is a leading provider of
full-service residential and commercial real estate brokerage
services. The Coldwell Banker brand prides itself on its history of
expertise, honesty and an empowering culture of excellence since
its beginnings in 1906. The Coldwell Banker brand is committed to
providing its network of affiliated sales agents with the tools and
insights needed to excel in today's marketplace and is known for
its bold leadership and dedication to driving the industry forward.
The brand was named among the 2023 Women's Choice
Award® "9 out of 10 Customer Recommended Real
Estate Agency." Blue is bold and the integrity and values of
the Coldwell Banker brand give the Gen Blue network an unbeatable
edge. Coldwell Banker Real Estate LLC fully supports the principles
of the Fair Housing Act and the Equal Opportunity Act. Each office
is independently owned and operated. To join Coldwell Banker Real
Estate and unlock the Gen Blue possibilities, please
visit https://careers.coldwellbanker.com/.
1 Reported by the National Association of REALTORS®
(NAR).
2 Tracking and estimations reported by the National
Association of REALTORS® (NAR).
Media
Inquiries:
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Athena
Snow
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Paola Bahena
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Coldwell Banker Real
Estate LLC
|
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G&S for Coldwell Banker Real Estate
LLC
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973.407.5590
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813.838.4383
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Athena.Snow@coldwellbanker.com
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pbahena@gscommunications.com
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SOURCE Coldwell Banker Real Estate LLC