Chinese buying was up more than 70% to $22 billion — nearly 1 in 4 dollars of all foreign purchases, according to the National Association of Realtors.
Canadians are actually No. 1 in terms of total homes bought, but the Chinese buy much more expensive homes: An average price of $591,000.
The Chinese also bring a lot of cash to the table: More than three-quarters of their purchases were all-cash buys.
California is the biggest market for the Chinese, accounting for a third of their purchases.
Washington State, however, is coming up quickly, accounting for 9% of buys. It’s followed by New York, Pennsylvania and Texas.
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