Real estate investors now play a critical role in the housing market recovery. They account for one million homes sold in the U.S. in 2010, according to the National Association of Realtors (NAR).
This trend came about, in large part, due to foreign investors who bought around $41 billion worth of property in 2010. In the U.S., around 28 percent of real estate agents represent at least one international client. This bodes well for native investors as well, as it opens the market to flip houses rather than buy foreclosures or searching for other deals.
Another benefit of this trend is that real estate agents here in the U.S. are able to increase their business capacity in what is otherwise seen as a shrinking market.
Whether the investor is from the U.S. or abroad, they still need to buy intelligently and only go after the right opportunities, considering the market is still in recovery. However, it appears with one million homes sold, it’s a trend gaining momentum and will hopefully help the market.
Foreign investors are currently most active in purchasing homes in the southern part of the U.S., including Florida, California, Arizona and Texas. Yet, sales are growing around the country in part due to a weak dollar.