Good article in yesterday's (7/6/20110) Money section of the USA Today on how foreign buyers are helping the US housing market. The article's title is "Foreign Buyers Help Housing Market". Whether you look at the influence in the percentage of foreign purchases of property or the percentage of foreign property searches online, it is significant indeed. For example the article states that for 12 months ending March 2011, 31% of Florida's home sales were to foreign buyers. That's up from 10% in 2007.
It certainly matches my experience in speaking with customers and colleagues. Most notable is the dynamic influence of Canadian visitors here in Florida. The number of Canadian license plates on cars this season was amazing. It is fantastic to have people who are really excited to visit and buy property in our market. They are making a vital contribution to the improving trends we are experiencing in real estate sales for Naples and Marco Island. In exchange these new property owners now have a great place to enjoy which offers an unbeatable quality of life. Welcome!Labels: foreign buyers, Marco Island, Naples, Naples Real Estate, real estate
