The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.
Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier.
“The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says."
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes.
Posted by Hailey Miller on Monday, July 8th, 2019 at 1:01pm.
Area Home Prices Increase a Normal 3.5% YTD
King County Prices Slightly Down
Inventory, pending sales and prices all increased during June
Buyers getting “some relief” as key indicators point to strong summer for housing market
KIRKLAND, Washington (July 8, 2019) – Inventory, pending sales and prices all increased during June compared to a year ago, according to the latest report from Northwest Multiple Listing Service. The same report, which covers 23 counties in Washington state, shows year-over-year drops area-wide in both the volume of new listings and closed sales.
“Clearly we now see that the market is moderating – that is we’re definitely moving from a
