Foreign buyers pulling back, realtors say

foreign-investorsA strong U.S. dollar and rising home prices have undermined demand, according to industry economists

By Laura Kusisto | The Wall Street Journal

Demand from foreign buyers is weakening, the National Association of Realtors says, undermined by a strong U.S. dollar and rising home prices.

Last year, many real-estate experts predicted that foreign investors could flock to U.S. real estate as a safe haven amid global economic tumult. Last June, Realtors reported that Chinese buyers had surpassed Canadians as the top foreign buyers of U.S. real-estate, saying this reflected growing interest in the U.S. as a secure place to park their money.

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