Foreign purchases of American homes plunge 36% as Chinese buyers flee the market

By
Managing Real Estate Broker with Heritage Texas Properties TREC # 0524744
https://activerain.com/droplet/5k5N

In my market of Austin TX and Lakeway TX, I am also seeing a big drop in foreign purchasasof single home properties. The Austin MLS was off 33% month over month this month of single home residances. Our pricing is on the riase only because we do not have the inventory to support the the demand.

Austin TX Months Supply

And thien if you look at the sales and pendings, you can really see how the market is retracting in Austin TX and the Lakeway area. This chart only shows my MSA of Lakeway TX and the Lakeway MLS area of Lake South

Lakeway Real Estate Sales Data

So, what are you seeing in your market and are you seeing the same thing? 

You can read the entir story here: https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html

 

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