Florida Realtors issued the following announcement on Feb. 7.
While Fla. also saw a decline, it remained the top U.S. state for international buyers. More than 1M foreign-born people have immigrated to the state in the last 10 years.
Based on projected numbers for net international migration in 2019, the U.S. Census Bureau believes that 2019 saw the lowest levels of net immigration into the United States in the past decade. Net migration of foreign-born individuals steadily increased from 2010 to 2016 but began to quickly drop after 2016.
If the Census Bureau projections hold true, net migration of foreign-born individuals will decrease another 15% compared to 2018, for a 43% decrease in migration since the peak in 2016.
The Census identified three major relocation trends over the past decade, namely “declining immigration of the foreign born, increasing foreign-born emigration, and changes in Puerto Rican migration following Hurricane Maria in September 2017.”
The Census results can be understood in the context of the 2019 Profile of International Transactions in U.S. Residential Real Estate by the National Association of Realtors® (NAR). According to the NAR, the top five countries with buyers purchasing property in the United States were Canada, China, India, Mexico and the United Kingdom.
In 2018, China replaced Mexico as the country with the highest number of foreign-born immigrants moving to the United States.
Florida top state
Florida was the most popular destination for those emigrating to the United States in 2019, followed by California, Texas, New York and Massachusetts.
More than one million foreign-born people have emigrated to Florida in the last 10 years, and the state attracted 20% of foreign-born buyers overall, including 42% of all Canadian immigrants. Florida was the most sought-after state for foreign buyers for Canada, India and the United Kingdom, and it was listed as one of the top states for foreign buyers in all five countries.
Original source can be found here.
Source: Florida Realtors