CNBC’s Diana Olick says a new report from the National Association of Realtors shows foreign buyers are pulling back from the U.S. housing market reaching a new record low. According to the report, from March 2022 through April of this year, international buyers bought roughly 84,600 homes. The figure is the lowest on record since the NAR began tracking them in 2009. Interestingly, the median price of homes purchased by foreign buyers was $396,400, the highest price ever recorded.
“Florida, Texas and Arizona continue to attract foreign buyers despite the hot weather conditions during the summer and the significant spike in home prices that began a few years ago,” Said Lawrence Yun, the NAR’s chief economist.