Foreign buyers are slowly returning to the US housing market
CNN
Anyone who bought a home -- or tried to -- over the past couple of years knows it was rip-roaringly competitive. But it could have been worse. One group all but disappeared from the market during the pandemic: Foreign buyers.
But now foreign real estate investments are slowly coming back, according to a survey from the National Association of Realtors.
Travel restrictions during the pandemic barred prospective buyers from abroad from traveling to the US and shopping for homes. But with those restrictions falling away -- along with many Covid testing requirements -- foreign buyers have returned. Between April 2021 and March of this year, international buyers snatched up $59 billion worth of US residential properties. That was up 8.5% from the previous year, breaking a three-year streak of declines.
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