U.S. Home Purchases by Foreigners Rise 24%, Realtors Group Says

Foreign-born buyers took advantage of falling property prices to purchase $82 billion of U.S. homes over the past year, a 24 percent increase, according to a report by the National Association of Realtors.

Canada was the top country of origin over the 12 months ended in March, accounting for 23 percent of sales to foreigners, the Chicago-based group said today in an annual study, based on a survey of members. China ranked second at 9 percent, followed by Mexico, the U.K. and India, with 7 percent each. Brazil and Argentina, which are counted together, increased to 5 percent from 2 percent a year earlier.