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[T1085]Top 10 Best States

by Real Estate Advisor, Rea

America has always attracted home buyers from other countries and still continues to do so, being one of the most popular markets for international real estate. Read on to know the latest statistics in support of this fact. In a comprehensive research conducted on the home buying preference of international real estate buyers in the U.S., the National Association of Realtors (NAR) found a significant rise in the home buying activity among overseas home buyers.

At least one in every 5 realtors has sold a second home in the U.S. to an international client between April 2006-2007. According to the report, a typical foreign home buyer purchased a detached single-family home or town home and spends an average of 4.2 months in the U.S. property. They also had a strong preference for condos/apartments when compared to local buyers. Twenty two percent of the homes purchased by foreign buyers were condos/apartments as against the 12% of homes purchased by U.S. buyers.

The Sun Belt states, which have recorded the maximum number of home sales, seem to be the most popular choice of location for foreign buyers. Florida emerged as the top state with the maximum number of foreign home buyers. The South led the rest of the regions, recording 49% of foreign home purchases. The West followed closely accounting for 31% of home purchases by foreigner buyers. The Midwest region had 11% of homes purchased by foreign home buyers while the Northeast accounted for 9%. These findings come from the 2007 NAR Profile of International Home Buying Activity, a survey of the foreign home buying activity between April 2006 and April 2007.

The top U.S. states where foreign buyers buy real estate according to the report are given below, along with the percentage of all international home buying transactions:

1.Florida - 26%

2.California - 16%

3.Texas - 10 %

4.Arizona - 6%

5.New York - 4%

6.Colorado - 3%

7.Illinois - 2%

8.Ohio - 2%

9.Georgia - 2%

10.North Carolina - 2%

It is significant to note that all the top 3 states on the list are major gateways for visitors from other countries entering the U.S. According to the study the majority of foreign buyers were from Mexico (13%), the U.K. (12%) and Canada (11%). Europe accounted for 33% of foreign buyers while Asia and North America (outside the U.S.) accounted for 24% and 23% of international home buyers.

Washington, DC July 11, 2007 -- REindex has revealed the top ten states searched in the first half of 2007. The states with the most real estate searches were: Texas, Florida, New York, California, Illinois, Massachusetts, Pennsylvania, Minnesota, Michigan, and Iowa. This list is being published to assist real estate market hobbyists as well as serious investors. Unlike reports of sales or permit applications, this list reflects where people are searching for real estate. It can indicate where the next moves may be.

"The Top Ten List is always an interesting report. We usually see the big states in the list, but the remaining members of the list are often a surprise," comments Heath Coker, site manager. The top ten report is not an indicator of a positive or negative real estate market for any state, but is an indicator of Internet search interest. For example, the mid-year 2007 report interestingly includes Michigan. This inclusion is interesting because Detroit has recently been in the news as having more than its share of foreclosures.

The top ten list may be an indicator of future closings. "There has to be a buyer in order for someone to sell, and even in markets that are not appreciating, buyers can find good values," says Coker. "Being on the list indicates that people have an interest in real estate there."

While media reports are mixed about whether investing in real estate is back on the upswing, some areas steadily improve. The number of opportunists looking for a foreclosed "steal of a deal" is increasing, but there are other markets that are still appreciating. Clint Simpson of Greenwood King in Houston says, "The houses here sell fast and we typically have bidding wars that result in a sale above list. All indications are that our market will be strong for the next few years."

REindex provides links to the real estate web sites that home seekers and investors are looking for. As states like Alabama, Texas, and Michigan have announced job growth, the REindex site review teams scour the net for useful real estate sites. REindex makes finding real estate by location much less tedious.

Because REindex.com, The Site Enginesm, only links to sites that a human reviewer has approved for relevance, usefulness, and location, REindex has become a trusted site for surfers and agents. For additional information, contact Heath Coker.

About REindex.com, LLC:
The company was started in March of 2000 with the vision that real estate companies would have their own web pages that people want to easily find.

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Reindexdotcom has sinced written about articles on various topics from Home Buyers Guide, Real Estate. Contact: Heath Coker, Site ManagerREindex.com, LLC508-495-1000. Reindexdotcom's top article generates over 590 views. to your Favourites.