For the past four 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 2020 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 9,000 members during May-June of 2020, the corresponding time period for international client transactions is based on the 12-month time period of April 2019 - March 2020.
Highlights + Notable Findings Include:
- Top Buyers: China (31%) and Mexico (13%) were among the top foreign buyers.
- Dollar Volume: Foreign buyers purchased $420 million dollars of residential property during April 2019 - March 2020.
- Destination: Foreign buyers purchased in Wake County (65%), Durham (19%), Harnett (4%), other NC County (8%).
- Type of Property: 73% of foreign buyers purchased a single-family detached property.
- Intended Use: 58% of foreign buyers intended to use purchase property for primary residential use.
- Outbound Purchases: Countries of Interest to Local Clients include Canada, China, Colombia, Dominican Republic, France, Jamaica, New Zealand and the United Kingdom.
For all notable findings, including graphs and data:
Download Full 2020 Report Here
A special thank you goes out to the 2020 Economic Study Team:
- Casey Angel • VP Policy & Engagement, RRAR
- Lawrence Yun, PhD • Chief Economist & SVP Research, NAR
- Gay Cororaton, Sr. Economist and Director of Housing & Commercial Research, NAR
- Brandon Hardin, Research Economist, NAR
- Meredith Dunn, Research Manager, NAR