Chinese Replace Canadians as Top U.S. Home Buyers
Washington, DC, June 19, 2015 -- The Chinese are now the top foreign buyers of U.S. homes, according to a survey by the National Association of Realtors.
For many years Canadians have topped the list but a weak currency has slowed sales.
Chinese buyers made up 16% of international buyers who bought primarily single-family homes and condominiums in the year that ended in March, NAR said.
That was up from 12% from the previous year.
Meanwhile, Canadians made up 14% of international buyers, down sharply from 23% in 2013. Indian buyers made up 8% of foreign buyers to place third in the survey.