International Activity In The United States Market

International Activity In The United States Market

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The economic environment during the 12-month period April 2017— March 2018 provided both opportunities and challenges for foreign buyers interested in purchasing U.S. residential property. Amid tight supply, solid employment growth, and historically low interest rates, home prices continued to increase strongly in the United States. Measured in local currencies of foreign buyers, the U.S. home price appreciation was tempered by the weaker U.S. dollar for some countries such as Canada and China. Sustained employment growth in the United States bolstered home buying by domestic residents who competed against foreign buyers for the limited supply of homes on the market.

Highlights

Foreign buyers purchased $121.0 billion of residential property from April 2017—March 2018, a decrease from $153 billion during the previous 12-month period (April 2016—March 2017).

The average price of properties purchased by the mix of foreign buyers was $454,400, a decrease from $536,900 during the previous period. 

Foreign buyers continued to purchase properties at the higher price point compared with all existing home buyers: among existing home buyers, the average price was $290,600 and the median price was $249,300. 

The major foreign buyers were China ($30.4B), Canada ($10.5B), the United Kingdom ($7.3B), India ($7.2B), and Mexico ($4.2B).

Source - National Association of Realtors

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