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International Existing Homes Sales Approached $82 Billion During 2010/11

  • NAR’s 2011 Profile of International Home Buying Activity reports that the total U.S. Existing Home Sales market was approximately $1.07 Trillion in the 12 months ending in March 2011, with sales of approximately $41 Billion to international clients.
  • In addition, recent immigrants (who have moved to the U.S. within the past 2 years) and individuals with visas for more than 6 months purchased an additional $41 Billion, for total internationally oriented home sales of $82 Billion, up from $66 Billion reported in 2010.
  • Considering transfer, home improvement, redecorating, and other costs, the $82 billion of sales would have easily generated an additional $15 Billion of GDP.

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Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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