The survey does not count new construction, where international buyers are also active. In total, 15% of foreign buyers bought homes worth more than $1 million. Chinese buyers in particular like California, as they often buy so that their children can attend local schools and universities. The drop in overall foreign purchases is unlikely to ease the competition for domestic buyers, as international buyers only made up a little more than 2% of all buyers. But it could help on the margins in certain local markets favored most by foreign buyers.

---

Persons: Lawrence Yun, Juwai, Kashif Ansari, Juwai IQI, Yun Organizations: National Association of Realtors, Realtors, U.S Locations: China, Mexico, Canada, India, Colombia, California, Asia, American, Florida, Texas, North Carolina, Arizona, Illinois, Florida , Texas