According to the recent market survey results of the association of American Real Estate Traders (NAR), global economic growth decelerated and the number of houses available for low-selling made foreign investment in real estate. US residents fell sharply in the past year.
According to the annual report released by NAR, foreigners bought US $ 77.9 billion of available homes during April 2018-3 / 2019, down 36% from 12. the previous month.
In particular, non-resident foreign buyers accounted for $ 33.2 billion in US available home sales, down 37% from the previous survey year.
The value of housing that foreign buyers reside in, or newcomers to the United States, bought also dropped 34% to $ 44.7 billion.
Lawrence Yun, chief economist of the NAR, said a series of factors such as global economic growth decelerated, stricter capital controls in China, stronger dollar and low stockpiles, have helped many foreign buyers withdraw from the real estate market. US .
According to him, such a large reduction shows that buyers have less confidence in owning real estate in "the flag country".
According to the survey, this is the seventh consecutive year that Chinese buyers have surpassed all other countries in terms of dollar value in transactions, but this number still decreased by 56% compared to the previous 12 months.
Considering this criterion, Canada, India, Britain and Mexico followed China in the top five countries with the most real estate buyers in the US.
In particular, the state of Florida attracts the most Canadians, while the state of California appears to be the most ideal destination for Chinese buyers. The third favorite place is Texas, especially for Indian and Mexican buyers.
