NAR: Nearly 1 in 5 Realtors Sold to Int'l Client

Nearly one in five Realtors has sold a home to an international client in the past year, according to the National Association of Realtors.Most international homebuyers purchased single-family homes or townhomes, but 22% bought condominiums/apartments, compared with only 12% of U.S. homebuyers, the association reported in its 2007 NAR Profile of International Home Buying Activity. The study also found that 28% of foreign buyers bought their houses with cash, compared with 8% of U.S. homebuyers. The median price of homes bought by international buyers was $299,500, compared with the U.S. median of $221,900 for the same period, the NAR reported. The association can be found online at http://www.realtor.org.