Source: Realtor —
Home prices in the U.S. are so sky-high these days, even wealthy foreign buyers aren’t immune to feeling the pinch.
Last year, international buyers snapped up 98,600 residential properties totaling $59 billion, according to a new National Association of Realtors® survey of about 9,400 Realtors conducted from April 11, 2021, through May 9, 2022.
Granted, these foreign purchases account for a slim fraction (just 1.6%) of the 6.06 million total existing-home sales in their data’s time frame. In fact, international buyers made 7.9% fewer property purchases than they did a year earlier. Nonetheless, record-high home prices led them to spend 8.5% more for the privilege of owning property on U.S. soil. (Only existing homes, not new construction, are considered in the data.)
