Foreign Buyers Once Again See US Housing Market as a Good Investment: NAR

Originally published on July 18, 2022, by Troy Green for the National Association of Realtors.

Foreign buyers purchased $59 billion worth of U.S. existing homes from April 2021 through March 2022, an 8.5% increase from the previous 12-month period and stopping a three-year skid in foreign investment in U.S. residential real estate, according to a new report from the National Association of REALTORS®. Foreign buyers purchased 98,600 properties, down 7.9% from the prior year and the fewest number of homes bought since 2009 when NAR began tracking this data. Overall in the U.S., existing-home sales totaled 6.12 million in 2021 – the highest annual level since 2006.

“For the second year in a row, restrictions and general caution tied to international travel during the pandemic slowed home buying by wealthier foreign buyers,” said NAR Chief Economist Lawrence Yun. “Even so, domestic home buying demand was exceptional and, therefore, boosted home sales nationally.”

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