CNBC reporter Robert Frank revealed on Monday that overseas buyers have purchased more than $1 billion worth of American real estate in the last year.
Frank cited the National Association of Realtors’ latest data, which found that a record $104 billion worth of property – or 8 percent of total home sales nationwide – went to foreign buyers between April 2014 and March 2015.
Buyers from China were the most prevalent, with many of them purchasing properties in Los Angeles, San Francisco, Seattle and New York.
Image via flickr/Mark Moz
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