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Foreign buyers are bailing on the U.S. housing market. Here's why

August 2, 2023
Source: cnbc.com cnbc.com
News Snapshot:
International buyers are pulling back from the U.S. housing market, as high mortgage rates, soaring home prices, a meager supply of homes for sale and a strong dollar all make the purchases much less financially attractive. From April of last year to this March, international buyers bought roughly 84,600 homes; that's the lowest number since the National Association of Realtors began tracking such purchases in 2009 and a 14% drop from the year before. And while overseas buyers bought fewer homes, they paid more for them. The median price of homes they purchased was $396,400, the highest the Realtors ever...
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