Jamie Forbes for Redfin Real Estate

Foreign buyers are getting discounts on US homes – here's why

House prices reached a record high in June, with monthly costs also hovering in historic territory. This unprecedented lack of affordability has stalled the housing market and prompted a shift in power towards homebuyers , as sellers struggle to offload their listings.

A slower market gives foreign buyers — many of whom pay in cash — more room to take advantage. And thanks to a weakening U.S. dollar, these buyers may be able to spend less than they did a year ago for the same house. In some cases, it’s the equivalent of a 10% discount — even as home prices climb.

Among the countries Redfin analyzed, Russia led the charge in terms of currency-related savings, followed by Switzerland and S

See Full Page