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Foreign Buyers Return to US Housing Market After Three-Year Drought

After three straight years of declining sales, buyers from other countries purchased $59 billion worth of US homes 

A "For Sale" sign outside a house in Crockett, California, US.

A "For Sale" sign outside a house in Crockett, California, US.

Photographer: David Paul Morris/Bloomberg

Foreign homebuyers are back in the US real estate market.

Buyers who are not US citizens accounted for $59 billion worth of home purchases in the 12 months through March, a 9% jump from a year earlier and the first increase in three years, according to a report from the National Association of Realtors.