A Shift in the Market
Foreign investment in U.S. homes has slowed down significantly. According to the National Association of Realtors, purchases by international buyers dropped 36% from April 2022 to March 2023. That’s the lowest number of foreign property sales in the U.S. since 2009.
What’s Driving the Drop?
The U.S. dollar has strengthened, which makes buying American homes more expensive for international investors. On top of that, rising property prices and a limited number of homes for sale are discouraging foreign buyers from entering the market. In fact, the average purchase price for international buyers reached $780,300—well above what most are willing to pay.
Who’s Still Buying?
Some buyers from countries like Mexico, India, China, and Canada are still purchasing properties—especially in states like Florida, Texas, California, and Arizona. But overall, international demand is declining.
Why This Matters to You
With fewer foreign investors competing for homes, local buyers may find more opportunities. While the market is still tight and prices remain high, less competition could improve your chances of getting an offer accepted—especially if you're pre-approved and ready to move quickly.
What You Can Do Now
- Stay informed. Keep up with local market trends and inventory levels.
- Work with a trusted mortgage broker. Getting pre-approved puts you in a stronger position to buy.
- Act when the timing is right. Being prepared gives you an advantage when a good home becomes available.
- Now could be a smart time to explore your options and take the next step toward homeownership.
Ready to take the next step toward owning your home? Let's talk about financing options and how you can take advantage of today’s shifting market.