Signs of Recovering International Homebuyer Activity in U.S.
During the past few years amid the coronavirus pandemic, activity among foreign homebuyers seeking homes in the U.S. essentially disappeared. However, activity appears to be slowly returning according to the results of a survey of 9,400 Realtors by the National Association of Realtors (NAR). According to the 2022 International Transactions in U.S. Residential Real Estate report released in mid-July 2022, international buyers purchased 98,600 residential properties between April 2021 and March 2022 at a median purchase price of $366,100 compared to $355,700 for all U.S. existing homes sold). The aggregate total of $59 billion of foreign buyer purchases represented 2.6% of the total $2.3 trillion dollar volume of existing-home sales during the 12-month period.