For the past three 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 2019 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 8,300 members during April 2019, the corresponding time period for international client transactions is based on the 12-month time period of April 2018 - March 2019.
Highlights + Notable Findings Include:
- Top Buyers: India (16%) and China (9%) were among the top foreign buyers, with Iran and Venezuela tied for third most (7%).
- Dollar Volume: Foreign buyers purchased $870 million dollars of residential property during April 2018 - March 2019.
- Destination: Foreign buyers purchased in Wake County (78%), Durham (10%), Chatham (5%), Johnston (3%), Orange (3%) and other NC Counties (3%).
- Intended Use: 80% of foreign buyers intended to use purchase property for primary residential use.
For all notable findings, including graphs and data:
Download Full 2019 Report Here
A special thank you goes out to the 2019 Economic Study Team:
- Casey R. Angel, APR, CIPS • VP Policy & Engagement, RRAR
- Lawrence Yun, PhD • Chief Economist & SVP Research, NAR
- Gay Cororaton • Research Economist, NAR