For the first time Chinese citizens have become the top foreign buyers of US homes in both total sales and dollar volume, spending US$28.6 billion and making up 16% of transactions in the 12 months through March, Bloomberg reported, citing a report released by the National Association of Realtors. Chinese buyers typically bought more expensive properties, with an average purchase price of US$831,800 compared to the international average of US$499,600. Canadians, which had led international purchases since 2008, ranked second with US$11.2 billion in spending and a 14% share of sales.
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