Foreign Buyers Surge in U.S. Housing Market Despite High Mortgage Rates

Recent housing data reveals a complex market landscape, with housing starts showing a decrease in August ^[2]. This decline in new construction comes at a time when the market has been particularly challenging, following years of pandemic-era sub-3% mortgage rates that have since risen significantly ^[3].

Regional markets are showing varied performance, with some areas experiencing notable declines. In Arizona, for example, four major housing markets have recently seen significant value drops, illustrating the uneven nature of the current real estate landscape ^[4].

The ongoing housing affordability crisis has sparked increased activism, as evidenced by the recent pro-housing conference that drew numerous volunteer advocates paying their own way to participate. This grassroots movement demonstrates growing public engagement in efforts to address housing accessibility and affordability issues ^[5].

Industry challenges are also manifesting in legal disputes, with Zillow facing a class-action lawsuit over allegations of hidden agent fees reaching up to 40%. The lawsuit claims the real estate platform uses deceptive practices that may contribute to inflated commissions and higher costs for homebuyers ^[6].

1. America's High Mortgage Rates Aren't Deterring Foreign Buyers
2. Real Estate Newsletter Articles this Week: Housing Starts Decreased in August
3. The ‘best time’ to buy a home is right around the corner. Here’s what you need to know
4. 4 Arizona Housing Markets That Have Plummeted in Value Recently — Will They Recover?
5. I spent 2 days at the biggest pro-housing conference in America. A surprising number of the attendees were there on their own dime.
6. Zillow faces class-action suit over hidden 40% agent fees