Fewer foreign buyers of US homes

National Association of Realtors reports the number of existing homes purchased by foreign buyers from April 2022 to March 2023 decreased to the lowest level since 2009.

International buyers purchased $53.3 billion worth of U.S. residential properties — 84,600 homes — during the 12-month period, down 9.6% from the previous year.

Lower housing inventory in the U.S., higher borrowing costs across the world and a strong dollar are reasons for the slowdown, according to NAR's chief economist Lawrence Yun.

"Among those who expressed some interest, but those who did not successfully complete the transaction, they're saying, it's a lack of choices," Yun told USA TODAY. "The other part is the strong dollar just makes it very expensive for the foreigners to buy here."

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