NAR: Foreign Homebuyer Sales Hit 15-Year Low; Many Factors to Blame

The number of existing U.S. residential properties purchased by international buyers has dropped to a 15-year low, according to a new report from the National Association of Realtors. There were 54,300 existing homes sold to foreign buyers between April 2023 and March 2024, the lowest since NAR began tracking the stat in 2009 and down 36 percent from the previous year," said Long Island Business News. "The slowdown in international homebuyers has also been felt on Long Island, where foreign buyers have been active in the luxury real estate market. In 2016, LIBN reported that nearly half of home sales of $5 million or more in Nassau County were purchased by buyers from other countries.