New market data shows median home price falls for the first time in six months as inventory spikes for the third straight month.
By the #s:
- Median Price: $381,000 up 19%
- Sales: 3,909 down 21%
- New Listings: 4,746 up 1%
- Average Interest Rate: 5.4%
NAR Study: International Buyers Are Back
In NAR’s annual report, 1 in 4 (24%) international buyers chose Fla. Nationwide, they spent $5.9B, up 8.5%, even as single-family home sales dropped 7.9%.
|WASHINGTON – Foreign buyers purchased $59 billion worth of U.S. existing homes over a one-year period (April 2021 through March 2022) – an 8.5% increase from the previous 12-month period and the end of a pandemic-led, three-year skid.|
The 98,600 existing homes sold – the lowest since NAR tracking began in 2009 – were down 7.9% year-to-year.
Overall, however, Florida led the nation in welcoming foreign investment as one in four international buyers (24%) selected property in the Sunshine State.