32 - Foreign Investors Buying Up Housing In The US

In the last year, people from other countries bought fewer homes in the U.S., spending $53.3 billion, less than before. This comes from a report by the National Association of Realtors (NAR). The number of homes bought by foreign buyers went down 14.2%, the lowest since 2009. One reason is there aren't as many homes available, and borrowing money for homes got more expensive worldwide. The report talked to NAR members who helped people from other countries buy and sell homes from April 2022 to March 2023. These buyers made up 2.3% of home sales. Their home prices were higher, with Chinese buyers spending the most. Many paid in cash and liked single-family homes for vacation or renting. The NAR is a group with over 1.5 million real estate workers.

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