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Foreign buyers are fleeing the U.S. housing market, with sales at a record low
International buyers are scaling back partly due to a strong U.S. dollar, the National Association of Realtors says
A previous version of this story misstated the time period during which sales to foreign home buyers were tracked.
Foreign buyers are fleeing the U.S. housing market, with sales to buyers from outside the U.S. falling to an all-time low.
International buyers purchased 54,300 homes, worth $42 billion in total, in the 12 months through this March, according to a report by the National Association of Realtors released on Wednesday.
The number of existing homes purchased by foreign buyers in the U.S. was down 36% from the year-earlier period, the report found. Sales of homes to international buyers fell for the seventh year in a row in March, and to an all-time low since the NAR began tracking the data in 2009.