International investors sitting out the California home market

Published by
The Mercury News

Foreign buyers are snapping up fewer homes in California as the pandemic has slowed international travel from China and other parts of Asia, which accounts for at least a third of foreign real estate investment in the state. That could mean less competition for local buyers who have been squeezed out of the Bay Area’s scorching housing market. But, some experts say, cash offers and eye-popping overbids from wealthy overseas investors could soon return. Behind Florida, California is the second most popular state for international buyers, according to a new report from the National Association o…

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