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U.S: Cheap homes lure foreign buyers

Posted on 13 June 2012

Lured by bargain home prices, foreign buyers stepped up their purchases of U.S. homes by 24% over the past year, according to an industry trade group. The National Association of Realtors reported Monday that $82.4 billion worth of homes were sold to international buyers in the 12 months that ended in March, up from $66.4 billion the year before.
U.S. prices have fallen by about a third from their 2006 peak and are at their lowest level since 2002, and foreign sales were especially strong in states where prices dropped even more sharply………………………………………..Full Article: Source


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