A significant proportion of new homes are being purchased by absentee buyers, defined by CoreLogic as owners with a different home address than the property. Absentee-owned new homes are most often purchased by Real Estate Investment Trusts, corporations, or individual buyers as an investment. Using data from CoreLogic, we determined the top 10 markets for absentee owners by first looking at markets with a minimum of 1,000 total new home closings reported thus far in 2014. From there, we focused on markets where 10 percent or more of the new home purchases are by absentee owners. The top 10 markets reflect the highest percentage growth of new homes purchased by absentee owners between 2013 and the first three quarters in 2014.

Here are the current top 10 markets for absentee new home owners:


1.      The Villages, Florida

Percent of new homes purchased by absentee owners in 2013: 31%

Percent of new homes purchased by absentee owners so far in 2014: 34.49%

Percent growth: 3.5%

2.      Naples-Immokalee-Marco Island, Florida

Percent of new homes purchased by absentee owners in 2013: 30.23%

Percent of new homes purchased by absentee owners so far in 2014: 33.5%

Percent growth: 3.28%

3.      San Jose-Sunnyvale-Santa Clara, California

Percent of new homes purchased by absentee owners in 2013: 14.09%

Percent of new homes purchased by absentee owners so far in 2014: 16.05%

Percent growth: 1.96%

4.      San Francisco-Oakland-Hayward, California

Percent of new homes purchased by absentee owners in 2013: 11.12%

Percent of new homes purchased by absentee owners so far in 2014: 12.84%

Percent growth: 1.72%

5.      Portland-Vancouver-Hillsboro, Oregon-Washington

Percent of new homes purchased by absentee owners in 2013: 15.11%

Percent of new homes purchased by absentee owners so far in 2014: 16.63%

Percent growth: 1.51%

6.      Cape Coral-Fort Myers, Florida

Percent of new homes purchased by absentee owners in 2013: 26.93%

Percent of new homes purchased by absentee owners so far in 2014: 28.42%

Percent growth: 1.49%

7.      Fayetteville-Springdale-Rogers, Arkansas-Missouri

Percent of new homes purchased by absentee owners in 2013: 13.04%

Percent of new homes purchased by absentee owners so far in 2014: 14.02%

Percent growth: 0.97%

8.      Miami-Fort Lauderdale-West Palm Beach, Florida

Percent of new homes purchased by absentee owners in 2013: 13.5%

Percent of new homes purchased by absentee owners so far in 2014: 14.35%

Percent growth: 0.85%

9.      Lakeland-Winter Haven- Florida

Percent of new homes purchased by absentee owners in 2013: 10.35%

Percent of new homes purchased by absentee owners so far in 2014: 11.17%

Percent growth: 0.82%

10.  Salisbury, Maryland-Delaware

Percent of new homes purchased by absentee owners in 2013: 24.90%

Percent of new homes purchased by absentee owners so far in 2014: 25.26%

Percent growth: 0.36%

Note: Percentages may not add up precisely due to rounding.