Trulia, Inc. (NYSE: TRLA), a leading online marketplace for homebuyers, sellers, renters, and real estate professionals, today published its International House Hunter Report, which provides the inside scoop on current foreign interest in the U.S. housing market. Based on all home searches on Trulia between April 1, 2012, and March 31, 2013, this report tracks which U.S. metropolitan areas prospective foreign home searchers are looking at and how that has changed during the past year. Check out the full report here. Top 10 U.S. Housing Markets for International House Hunters Foreign homebuyers remain big players in many U.S. housing markets, even as asking home prices rose 9.5 percent year-over-year (Y-o-Y) in May. Florida remains the most popular real estate market but has recently become less attractive as home prices recover. Of the 10 housing markets with the highest share of searches on Trulia coming from outside the U.S., eight are on the decline. Only in Los Angeles and San Francisco did the foreign share of search traffic rise in the past year.
# | U.S. Metro | Share of Home Searchesfrom Outside the U.S. | Y-o-Y Change inForeign Search Share | |||
1 | Miami, FL | 14% | -4% | |||
2 | Los Angeles, CA | 13% | 4% | |||
3 | Fort Lauderdale, FL | 12% | -9% | |||
4 | West Palm Beach, FL | 10% | -12% | |||
5 | Honolulu, HI | 10% | -17% | |||
6 | Orlando, FL | 10% | -9% | |||
7 | San Francisco, CA | 9% | 2% | |||
8 | Cape Coral-Fort Myers, FL | 9% | -13% | |||
9 | Lakeland-Winter Haven, FL | 9% | -18% | |||
10 | Las Vegas, NV | 8% | -4% | |||
Note: Share of home searches from outside the U.S. is the percent of all searches on Trulia in each metro area that come from outside the United States. | ||||||
# | ZIP Code | Neighborhood | U.S. Metro | Share of Home Searchesfrom Outside the U.S. | ||||
1 | 90077 | Bel Air | Los Angeles, CA | 41% | ||||
2 | 90210 | Beverly Hills | Los Angeles, CA | 38% | ||||
3 | 90069 | West Hollywood / Sunset Blvd | Los Angeles, CA | 34% | ||||
4 | 33131 | Brickell Ave / Brickell Key | Miami, FL | 29% | ||||
5 | 10013 | Tribeca / Little Italy | New York, NY-NJ | 28% | ||||
6 | 10007 | World Trade Center / City Hall | New York, NY-NJ | 28% | ||||
7 | 33897 | Davenport | Lakeland-Winter Haven, FL | 28% | ||||
8 | 90265 | Malibu | Los Angeles, CA | 28% | ||||
9 | 33896 | Davenport | Lakeland-Winter Haven, FL | 28% | ||||
10 | 10019 | Midtown / West 50’s | New York, NY-NJ | 27% | ||||
Note: Share of home searches from outside the U.S. is the percent of all the searches on Trulia in the ZIP code that come from outside the United States. | ||||||||
- “People from all corners of the globe are looking at U.S. homes,” said Jed Kolko, Trulia’s Chief Economist. “Even though foreigners are a declining share of all home searches, foreign interest is becoming more diverse. More searches are coming from rapidly-growing developing countries, especially in Asia and Africa.”
- “Foreigners are drawn to the rich-and-famous neighborhoods,” said Jed Kolko, Trulia’s Chief Economist. “In some of the priciest neighborhoods in New York, Los Angeles, and Miami, more than one quarter of home searches come from other countries. But most Americans live in neighborhoods that lack worldwide name recognition. In most neighborhoods, foreigners account for less than 3 percent of home searches.”