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Foreign Buyers Retreat from Purchasing U.S. Residential Property in 2016

By Gay Cororaton, Research Economist, NATIONAL ASSOCIATION OF REALTORS®

The slowdown in economic growth in many countries, rising U.S. home prices, and the strengthening of the U.S. dollar against many foreign currencies led to a retreat in foreign buyers purchasing U.S. residential property, according to NAR’s recently released 2016 Profile of International Activity in U.S. Residential Real Estate. Non-U.S. citizens purchased $102.6 billion of residential property during the period April 2015—March 2016, a slight decrease from $103.9 billion in the preceding 12-month period.

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