International buyers experienced a significant decrease in purchasing existing homes in the United States for the year ending in March 2024. The total number of foreign purchases fell by 36% compared to the previous year, with a total of 54,300 homes bought by international buyers during this period.
Important elements from the text:
– 54,300 existing homes purchased by international buyers in the U.S.
– 36% decrease in international buyer purchases year over year
This decline in international home purchases may be attributed to various factors such as changes in economic conditions, immigration policies, and global market trends. It is crucial for industry experts to closely monitor these trends and adapt strategies to better understand and serve the needs of international buyers in the U.S. real estate market. Despite this downturn, there may be opportunities for growth and innovation in the industry to attract and retain international buyers in the future.
You can read this full article at: https://www.housingwire.com/articles/international-buyers-purchase-fewest-existing-homes-on-record-nar/(subscription required)
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