By number of transactions, total U.S. home sales to international buyers dropped 10 percent to about 209,000 units, indicating a stronger dollar decreased demand from abroad
Chinese Top List of Foreign Buyers of US Homes for First Time
Chinese buyers topped Canadians to rank as the biggest foreign purchasers of U.S. homes by both sales and dollar volume, accounting for more than a quarter of all international spending.
Buyers from China spent $28.6 billion on U.S. homes and made up 16 percent of transactions by foreigners in the 12 months through March, according to an annual report released Wednesday by the National Association of Realtors. Canadians, which had led international purchases since 2008, ranked second with $11.2 billion in spending and a 14 percent share of sales.
Homebuyers from China have flooded into the American market in recent years amid growing affluence by residents of the world’s most populous nation, where the U.S. is viewed as a safe haven for wealth. They’re typically buying more expensive properties, with an average purchase price of $831,800, compared with $499,600 for all international buyers.
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