The National Association of Realtors revealed that international home buyers are starting to turn away from the US housing market.
From April 2017 to March 2018, the drop in sales is estimated to be around 21%.
Chinese homebuyers remain to hold the biggest chunk in terms of the population of international buyers. They are also targeting the most expensive homes that median prices of their purchases are around $439,100.
Homebuyers from China, Canada, Mexico, India, and the United Kingdom account to nearly half of the volume of sales from international buyers.
The drop in sales is strongly accounted for skyrocketing home prices and the shortage of inventory. Experts are also looking at the political climate of the country as one of the factors. Sam Khater of Freddie Mac also noted that these international buyers could have simply lost their appetite for the U.S. real estate.