Florida sales to foreigners top the nation
According to a newly released report from the Florida Realtors, the state leads the nation in foreign buyers purchasing U.S. residential real estate this year. South Florida sales are driving the market with 53 percent of all purchases thanks to activity in Miami, Fort Lauderdale and West Palm Beach. The state racked up 22 percent of all foreign purchases in the country, with international sales statewide reaching $24.2 billion for the 12 months ending in July, an increase of 25 percent from $19.4 billion in 2016. Overall, foreign buyers purchased 61,300 Florida properties, up from 47,000 in 2016, with a median price of $259,400 (up from $252,500 in 2016). Nationwide, foreign buyers represent 10 percent of the dollar volume of all purchases.