NEWS BRIEF
HOUSINGNEWSREPORT
Foreign Demand For U.S. Homes Cools A stronger U.S. dollar and weakening economies abroad — as well as new U.S. government restrictions on foreign buyers — weighed on purchases of U.S. residential real estate by overseas buyers, according to the National Association of Realtors. NAR’s 2016 Profile of International Activity in U.S. Residential Real Estate, which tracks U.S. residential real estate sales to international buyers between April 2015 and March 2016, found that foreign buyers purchased $102.6 billion of U.S. residential property from April 2015 to March 2016, a decrease from $103.9 billion from the previous 12-month period. International buyers purchased 214,885 residential properties, up 3 percent from the 208,947 in the previous 12-month period. “Weaker economic growth throughout the world, devalued foreign currencies and financial market turbulence combined to present significant challenges for foreign buyers over the past year,” said Lawrence Yun, NAR chief economist. Five states accounted for 51 percent of total international residential property purchases: Florida (22 percent), California (15 percent), Texas (10 percent), Arizona (4 percent) and New York (4 percent), claims the annual NAR report.
Zero Net Energy Homes Pulte Homes, the nation’s third largest new home builder, has completed construction of its zero net energy (ZNE) prototype home in Northern California. The name is designed to minimize its environmental footprint by generating as much energy as it consumes. Located in the Pulte community of Botanica in Brentwood, California, about 55 miles east of San Francisco, the 2,359 square foot, two-level ranch-style prototype home includes 3 bedrooms and 2.5 baths. New home prices in the community of Botanica range from the high $400,000s to low $600,000s and span from 2,343 to 3,590 square feet. “This home has been designed and engineered to produce as much power as it consumers off the traditional power grid,” said Brian Jamison, national procurement director at Pulte Homes . Sources: Pulte Homes, Green Building News
Source: National Association of Realtors
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