Foreign Purchases Of U.S. Homes Have Fallen 36% [Infographic]

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Foreign demand for American homes is evaporating. That’s according to the National Association of Realtors who reported that the dollar value of homes purchased by foreigners plummeted 36% between April 2018 and March 2019. During that period, foreign buyers purchased 183,100 properties with an average price of $426,100, totaling $77.9 billion. By comparison, buyers from overseas snapped up 266,800 properties averaging $454,600 each a year earlier, adding up to$121 billion.

Many factors were responsible for the decline including slower economic growth abroad, tighter capital controls in China, a stronger U.S. dollar and a low inventory of homes for sale, implying less confidence in owning a U.S. property. Following historic trends, Florida was the focal point for overseas property investment and the state attracted 20% of foreign buyers from April 2018 to March 2019. California followed, accounting for 12% of international purchases, while Texas rounded off the top-three with 10 percent.

For the seventh consecutive year, buyers from China pumped the most money into the American residential property market with their dollar volume of purchases totaling $13.4 billion. As impressive as that total is, it actually represents a 56% decline on the previous 12-month period when purchases came to $30.4 billion. Buyers from neighboring Canada had the second-highest purchase volume at $8 billion while some $6.9 billion of property was sold to buyers from India.

*Click below to enlarge (charted by&nbsp;Statista)

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Foreign demand for American homes is evaporating. That’s according to the National Association of Realtors who reported that the dollar value of homes purchased by foreigners plummeted 36% between April 2018 and March 2019. During that period, foreign buyers purchased 183,100 properties with an average price of $426,100, totaling $77.9 billion. By comparison, buyers from overseas snapped up 266,800 properties averaging $454,600 each a year earlier, adding up to$121 billion.

Many factors were responsible for the decline including slower economic growth abroad, tighter capital controls in China, a stronger U.S. dollar and a low inventory of homes for sale, implying less confidence in owning a U.S. property. Following historic trends, Florida was the focal point for overseas property investment and the state attracted 20% of foreign buyers from April 2018 to March 2019. California followed, accounting for 12% of international purchases, while Texas rounded off the top-three with 10 percent.

For the seventh consecutive year, buyers from China pumped the most money into the American residential property market with their dollar volume of purchases totaling $13.4 billion. As impressive as that total is, it actually represents a 56% decline on the previous 12-month period when purchases came to $30.4 billion. Buyers from neighboring Canada had the second-highest purchase volume at $8 billion while some $6.9 billion of property was sold to buyers from India.

*Click below to enlarge (charted by Statista)