Huge news from the Bloomberg Business, as Prashant Gopal and John Gittelsohn announced that Chinese buyers now outrank Canadians in purchasing homes in the U.S. The article, entitled “Move over; Canadians – Chinese buyers now No. I buyers of U.S. homes,” says that “buyers from China spent US $28.6 billion on U.S. homes and made up 16 per cent of transactions by foreigners in the 12 months through March, according to an annual report released Wednesday by the National Association of Realtors. Canadians, which had led international purchases since 2008, ranked second with US $11.2 billion in spending and a 14 per cent share of sales.”

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In a recent article on Think AdvisorGlobal Wealthy Want More Real Estate,” Michael S. Fischer breaks down the latest Savills/Wealth Briefing survey, which reveals that “private bankers and wealth managers found that 91% of global high-net-worth [HNW] investors were looking to increase or maintain the real estate holdings they own directly, and 87% intended to increase or maintain indirect holdings.”

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Active listings were down 4% compared to last month and 37% compared to last year in King County, with a median sale price of $441.4K. Homes spent an average of 25 days on the market, a 19% decrease from last year that reveals more buyers were on the market than last June. Downtown Seattle condo sales were up 126% year over year. The median sale price was just under $510K, up nearly $150K compared to last year’s numbers.

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