For the past two years, the Raleigh Regional Association of REALTORS® (RRAR) has conducted an annual survey of RRAR Members to help compile and publish its Profile of International Residential Transactions in cooperation with the National Association of REALTORS®.
The 2018 Profile of International Residential Transactions seeks to measure the size of Raleigh area real estate sales to international clients, helping provide a profile of origin, destination, and buying preferences. This overarching profile is then made available to REALTOR® Members and the general public to not only help RRAR Members better understand the growing global climate of our economy, but better help our region understand how foreign buyers play a role in our every day economics.
The Raleigh Regional Association of REALTORS® sent its online survey to over 7,700 members during April 2018, the corresponding time period for international client transactions is based on the 12-month time period of April 2017 - March 2018.
Highlights + Notable Findings Include:
- Dollar Volume: Foreign buyers purchased $1.27 billion of residential property during April 2017-March 2018, a 36% increase from the previous 12 month period.
- Destination: Foreign buyers purchased in Wake County (68%), Durham (20%), Orange (5%), and Chatham, Harnett, and Johnston Counties (3%) each.
- Intended Use: 83% of foreign buyers intended to use purchase property for primary residential use.
- International Clients: 29% of RRAR respondents had an international client, higher than the national average (23%).
For all notable findings, including graphs and data:
Download Full 2018 Report Here
A special thank you goes out to the 2018 Economic Study Team:
- Tessa Hultz, RCE, CAE, CIPS, e-PRO • CEO, RRAR
- Casey R. Angel, APR • Director of Communications, RRAR
- Lawrence Yun, PhD • Sr. Vice President & Chief Economist, NAR
- George Ratiu • Housing & Commercial Research, NAR
- Gay Cororaton • Research Economist, NAR