Last December, we reported on Chinese buyers’ impact on the United States housing market, especially here in California, where 1 out of 10 buyers in in 2012 were from China.

In 2013, this trend continues. According to a July 10, 2013 Forbes article, Chinese to Spend Billions on American Real Estate, “Chinese commercial real estate purchases totaled over $3 billion in 2012, much of it in California.” Asia Society, a multinational think tank, predicts that California will see “record investments by the Chinese in 2013.”

Money News also reports that Chinese buyers are “showering” the U.S. housing market with cash. Chinese home purchases in the U.S. are at a median price of $425,000, which is significantly higher than the $276,000 median that other foreign purchasers spend on U.S. homes.

Money News also states that “conditions have been ideal for Chinese buyers who are looking to own a piece of the American dream.” This has to do with the U.S. financial crisis leading the way for a better housing market while China enjoyed steady economic growth.

For more information on current housing trends, follow The Agency on Twitter (@theagencyre).

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