Foreign buyers have shown an ongoing and significant interest in U.S. existing homes, even during this year of economic turmoil. A new report has revealed that foreign buyers purchased $53.3 billion worth of U.S. existing homes between April 2022 and March 2023. This is down 9.6% from the previous year.
A number of factors have likely contributed to this decrease. Global economic uncertainty has caused some foreign buyers to be cautious in their investment. In addition, the uncertainty in the U.S. housing market caused some to reduce their investment. Some government policies such as the foreign investment tax also had an impact.
In summary:
• Foreign buyers purchased $53.3 billion worth of U.S. existing homes between April 2022 and March 2023
• This represents a 9.6% decrease from the previous year
• Global economic uncertainty, U.S. housing market uncertainty, and some government policies have likely contributed to this decrease
You can read this full article at: https://www.housingwire.com/articles/foreigners-bought-53b-in-us-existing-home-sales-a-10-drop/(subscription required)
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