Foreign Buyers Cut U.S. Existing-Home Purchases 14% to 67,100 as Dollar Volume Falls 19%
Updated
Updated · CNBC · Aug 3
Foreign Buyers Cut U.S. Existing-Home Purchases 14% to 67,100 as Dollar Volume Falls 19%
3 articles · Updated · CNBC · Aug 3
Summary
67,100 U.S. existing homes were bought by foreign purchasers in the year ended March, the second-lowest total since NAR began tracking the market in 2009.
NAR tied the pullback to fewer international visitors to the United States, while researchers also pointed to uncertainty around H-1B and other employment-based visa policies that has curbed demand from skilled workers.
Luxury new homes have held up better than the broader market, with Irvine, California, still drawing affluent Chinese cash buyers and Toll Brothers cited as a standout brand among major public builders.
Canadians made up 16% of foreign purchases, the largest share, while Chinese buyers fell to third behind Mexicans by transactions but still spent the most because they bought pricier homes, especially in California.
Florida remained the top destination for foreign buyers, underscoring that the retreat is broad but uneven across buyer groups, regions and price tiers.