From April 2020 to March 2021, international buyers purchased 107,000 US residential properties totaling $54.4 billion, according to the National Association of Realtors. Those dollar and sales figures were down 31% and 27%, respectively, from the previous year.
In addition, the international purchases of US homes from April 2020 to March 2021 hit the lowest volumes since 2011. International buyers accounted for 2.8% of the $5.8 trillion in existing-home sales during this period.
"The big decline in foreign purchases of homes in the US in the past year is no surprise, given the pandemic-induced lockdowns and international travel restrictions," said NAR Chief Economist Lawrence Yun in a prepared statement.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
