Study shows impact foreign buyers are having on Ohio's housing market

Foreign real estate buyers purchased $597 million of residential property in Ohio over the past year, according to findings of the recently released 2022 Ohio REALTORS^® International Residential Transaction study.

The study, conducted by the Ohio REALTORS^® Global Business Alliance in partnership with the National Association of REALTORS^®, provides insight on the level of foreign investment being made in Ohio's residential marketplace. The report compares current findings to activity that occurred in 2020. Among highlights:

• Total dollar volume of foreign buyers in 2022 reached $597 million, an increase from the $518.1 million level reached in 2020.
• Overall, home sales by foreign buyers reached 2,000 in the 2022 report, a decrease from the 2,700 sales recorded in 2020.
• The top countries of foreign buyers in Ohio: China (38%), India (13%), Mexico (13%) and Thailand (13%).
• The top cities in Ohio for foreign buyers: Cleveland-Elyria (28%), Columbus (24%), Cincinnati (19%) and Dayton (7%).

CLICK HERE to access the full findings of the Ohio REALTORS^® International Residential Transaction 2022 report.

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