Foreign purchases of U.S. homes slid for a fifth straight year amid continuing limited international travel and the stronger dollar. But the dollar volume of residential real estate purchased by international buyers rose 8.5%.
Foreigners bought 98,600 U.S. homes in the year ended in March, down 7.9% from the prior year, NAR says
Despite forecasts for a cooling housing market in 2022, U.S. home prices are still hitting record highs, even with mortgage rates surging in recent months. WSJ’s Dion Rabouin explains what’s driving demand, evidence of a slowdown on the horizon, and what that could mean for the economy. Photo composite: Ryan TrefesForeign purchases of U.S. homes slid for a fifth straight year as the pandemic continued to limit international travel and the dollar strengthened.
Foreigners bought 98,600 U.S. homes in the year ended in March, down 7.9% from the prior year, according to a report released Monday by the National Association of Realtors. That is the lowest level on record since NAR began collecting the data in 2009.
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