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Report: Foreign interest in U.S. real estate increases

July 13, 2010 - More people from outside the U.S. could be moving to the states thanks to the country's attractive real estate market.

The National Association of Realtors reported that many foreign homebuyers are finding the U.S. housing market increasingly appealing. American homes are perceived to be more affordable and more valuable than homes in their resident countries, said the NAR report.

"The changes in value to the U.S. dollar have had a strong impact on the international real estate business," said NAR president Vicki Cox Golder. "Foreign buyers understand the value of owning a home in this country."

Buyers relocated from 53 countries all around the world, but the most came from Canada, Mexico, the U.K., and China. Most international clients bought homes that were close to their home country and had adequate air transportation; Europeans typically moved to the East Coast, Asians to the West Coast, and Mexicans to the Southwest, said the report.

A slight majority of international clients (53 percent) moved to Florida, California, Arizona and Texas, said the report.

Those states are also favored among domestic movers, particularly Florida and Texas, both of which have seen an increase of new residents from other states, reported Forbes.

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