Foreign Investment in U.S. Existing-Home Sales Drops 9.6% to $53.3 Billion in Annual Report

Between April 2022 and March 2023, international buyers acquired U.S. residential properties with a total value of $53.3 billion. This figure represents a 9.6% decrease compared to the previous year. 84,600 existing homes were sold during this period, marking the lowest number since NAR (National Association of Realtors) began tracking this data in 2009. This is a significant drop of 14.2% from the previous year’s sales.

Interestingly, the average purchase price for international buyers reached a record high of $639,900, while the median purchase price also hit an all-time high at $396,400, as reported by NAR.

The top five countries of origin for international buyers regarding the number of U.S. existing homes purchased were China, Mexico, Canada, India, and Colombia.

Regarding preferred destinations within the U.S., Florida took the lead, with 23% of foreign buyers opting for properties there. California and Texas followed closely, each attracting 12% of international buyers. Additionally, North Carolina, Arizona, and Illinois each accounted for 4% of foreign buyers in the United States.

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