Canadians are the top international buyers of U.S. homes, with the Chinese coming in second.

Who is currently assisting in the recovery of the US for-sale housing market? Of certainly, a large number of Americans. However, looking outside of the United States will provide a more balanced view.propertyfinder qatar

According to a June poll by the National Association of Realtors, foreign people paid $82.5 billion, or 8.9%, of the $928 billion spent on residential real estate in the United States from April 2011 to March 2012.

This was risen from $66.4 billion the previous year by 24%. Only five states accounted for more than half of all purchases last year: Florida, California, Texas, Arizona, and New York. Canadians are also buying in the Midwest, particularly in Chicago.

Foreign buyers have entered the American market since the 2008 housing crash, taking advantage of advantageous exchange rates, lower prices, and, in some cases, record-low lending rates.

Canadians are primarily purchasing in the United States to invest in the short term and retire later.

According to NAR data, Canadians accounted for 24% of sales to foreigners in the year to March.

After Canadians, the Chinese are the second-largest foreign house buyers. In the year to March, buyers from mainland China and Hong Kong accounted for almost $7 billion in purchases, or 11% of all overseas sales. From California to New York, Chinese buyers are paying cash for high-end, multimillion-dollar houses. The majority of the acquisitions are for second homes or as long-term investments.

The Chinese prefer the United States because their money travels further there. $2 million in Shanghai might only get you a two-bedroom apartment.

While some Chinese purchasers reside in the United States full or part-time, realtors estimate that roughly 40% of the residences are purchased for investment purposes. They're buying homes in states where foreclosures are rampant, such as Nevada and Florida. Some people are purchasing two or three properties at once.

There's one more factor to consider: status. In today's China, owning a foreign home is a status symbol.

According to internet reports from national brokerage companies including Coldwell Banker, Jones Lang LaSalle, Prudential Douglas Elliman Real Estate, and the Shanghai magazine Hurun Report, Russian billionaires have also been making headlines for buying some of the most lavish mansions in the United States.

According to Forbes, in 2011, Yuri Milner 'overpaid' by 100% on a $100 million Silicon Valley property. After paying $100 million on Donald Trump's Palm Beach estate in 2008, Dmitry Rybolovlev's daughter purchased a $88 million penthouse in New York City. In Miami's most expensive sale ever, an unknown Russian buyer paid $47 million.

Russian buyers attract a lot of media attention since they tend to buy the most expensive trophy residences. Other significant spenders from South America, such as Argentina, Brazil, Colombia, and Venezuela, also go to the United States.

Brazilians have gotten a lot of press for their shopping sprees in Miami and, increasingly, New York City, but Argentines have been just as busy.

Be cautious. According to Douglas Elliman Real Estate, an increasing number of Venezuelans are investing in American real estate as a safe haven for their wealth as their country faces political and financial upheaval. Rental properties account for a large portion of the purchases.

French buyers are very active in the South Florida real estate market.