2014 Profile of International Home Buying Activity Summary of Report at Lawrence Yun, Senior Vice President & Chief Economist Jed Smith, Managing Director, Quantitative Research Gay Cororaton, Research Economist

Sales to Foreigners: Modest Growth Approximately 5 percent of Total Residential Transactions

International Buyers: 7% of $1.2 Trillion Market Five Countries: 54 Percent of Total International Sales

Transactions Concentrated in Four States Percent of Total Foreign Transactions by State

2014 Profile of International Home Buying Activity Major Conclusions International Sales a Niche Market. – 7 Percent of total U.S. Home Sales by Dollar Volume. – Slow Growth/Varies from Year to Year. – Specialized Experience in Serving Buy-Side Important: Knowledge of language, customs, culture necessary in serving clients. A Concentrated Market. – States: 55 percent of Transactions Concentrated in Florida, California, Texas, and Arizona. – Countries: 54 percent of Transactions by Nationals from Canada China, India, Mexico, U.K. International Buyers are Diverse. – Motivations include investment, personal use (permanent or vacation), asset diversification. International Buyers Need Assistance. – U.S. real estate Practices Differ from Foreign Practices – Cultural as Well as Day-to-Day Differences Between U.S. and Other Countries. Sources of Clients – Generally Through Referral. – Websites Also a Source.