The fall in the U.S. housing market in recent years is attracting a new wave of foreign buyers, who are making a dent in the Bay Area and national real estate markets, the San Francisco Chronicle reports.
Foreign buyers spent $82.5 billion on homes in the U.S. during the 12 months ending in March, an increase of $66.4 billion a year earlier, according to the National Association of Realtors.
As for the Bay Area, about 6 percent of all property searches by prospective buyers are from abroad, according to the real estate site Trulia.com, with San Francisco being the most-popular search location.
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Article source: http://www.bizjournals.com/sanfrancisco/morning_call/2012/09/foreign-buyers-shopping-for-bay-area.html