In the year ending 3/19, foreign purchases of US residential real estate declined to $77.90 billion, down from a peak of $153.01 billion two years ago, their weakest level in six years. Chinese buying activity declined the most; by 50% or $13 billion in just one year. Slowing global growth, a Chinese trade fight, and a rising dollar are why. Impacts are being most felt in luxury sales.
Elliot F. Eisenberg, Ph.D.