2021 International Transactions in U.S. Residential Real Estate Report<\/a>. Moreover, the decline in foreign demand will ease supply constraints for domestic buyers.\u201d<\/p>\n\n\n\nThose who do in fact need to sell because of pending sanctions, are expected to do so off-market via personal and Realtor\u00ae relationships. These individuals are not looking to draw added attention to themselves or their assets. This is common generally in the ultra-luxury $20 million+ market, whereby maintaining privacy is critical to the sales process.<\/p>\n\n\n\n
Surprising to many is the fact that the median purchase price among Russian buyers in 2021 was $325,000, just slightly higher than the median purchase price among all U.S. foreign buyers of $303,200. However, the average purchase price among Russian buyers was $652,915, compared to $480,695 among all foreign buyers, suggesting there were more high-end Russian buyers bringing investment to the US last year.<\/p>\n\n\n\n
Though not the immediate market mover it was once projected to be, the most probable effects of the Russia-Ukraine conflict are likely to be an increase in building material costs and a smaller-than-forecasted increase in mortgage rates. Elevated crude oil prices and general uncertainty in the markets will continue to fuel inflation. Inflation slows consumer demand and could potentially lead to a recession. That said, supply levels are still at an all-time low and construction completions have not accelerated sufficiently to close the home shortage gap, so the housing market has continued to be a preferred investment outlet because demand far outstrips overall supply.<\/p>\n\n\n\n
This economic tug of war between uncertainty, security, inflation, and interest rates may lead to even further inventory shortages and increases in home prices and energy costs, thus setting up a very challenging spring housing market. Though home choices are sparse now, rates are still low and a bird in the hand will lend a feeling of partial security for buyers coming into added turbulence.<\/p>\n\n\n\n
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Bio<\/h2>\n\n\n\n Erin Sykes\u2019 perseverance and ability to anticipate trends are what have driven her success. She strives to help clients reach their unique goals with discreet, individualized attention and action-orientation. Specializing in helping high net worth clients year-round in Palm Beach, The Hamptons, and New York City, she utilizes her combined background in finance and construction to take an analytical and qualitative approach to amplifying clients\u2019 return on investment. With a background in commercial and luxury residential construction at her family\u2019s 120+ year-old firm and certification as a LEED AP \u2013 New Construction, she understands how to optimize new development and intricate renovation using sustainable materials and methodology. As Chief Economist for Nest Seekers International, Erin is responsible for developing and translating real estate trend data into consumer and industry insights. She reports on monthly housing starts, new developments, rate changes and general industry trends for all major news outlets. She is often interviewed by Fox Business News, CNBC, TODAY, CNN, NBC Nightly News, The Real Deal, Bloomberg, Mansion Global, Forbes, Bloomberg, TechCrunch, Inc., and Mashable. She holds a MBA from Pepperdine University and a Bachelor in Finance and International Business from Villanova University. Erin resides in Florida and New York City.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Russia-Ukraine conflict has drawn attention to the how international investors can move markets within the United States, in this case areas of new development like Billionaire\u2019s Row in New York City and Sunny Isles Beach, Florida. Billionaire\u2019s Row is the strip of new construction, ultra-tall condos on 57th Street (432 Park, One57, 220 Central […]<\/p>\n","protected":false},"author":3,"featured_media":844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","limit_modified_date":"","last_modified_date":"","inline_featured_image":false,"footnotes":""},"categories":[85,73,61,59],"tags":[],"acf":[],"yoast_head":"\n
How the Russia-Ukraine Conflict Impacts the US Real Estate Market | CREST Real Estate Network<\/title>\n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n\t \n\t \n\t \n