Story Idea: NAR Study Shows Decline in International Home Buyers
A new study from the National Association of REALTORS® found a decline in the number of foreign homebuyers in the U.S. as well as the total sales volume. Total international sales totaled $121 billion during April 2017 to March 2018, a 21 percent decline from the previous 12-month period. NAR Chief Economist Lawrence Yun blamed the decline on rising home prices and low inventory. “Sustained job creation and historically low interest rates also mean that foreign buyers are now competing with domestic residents for the same, limited supply of homes,” said Yun.
Check out NAR’s 2018 Profile of International Transactions in U.S. Residential Real Estate for more information about foreign homebuyer demographics and trends. Ask international homebuyers in your area about why they chose to purchase in the U.S. Speak with REALTORS® in your community about their work with foreign buyers and if they have seen a change in the frequency or demographic of clients.