• Annual growth in realtor.com listing views by British and German users dropped sharply in July, the month after Brexit. And the trend persisted through August.
  • The softened demand will mostly impact U.S. luxury markets and second-home hubs.

Brexit may have given a lift to the U.S. housing market by putting downward pressure on mortgage rates. But a study conducted on behalf of Inman suggests it’s also had a cooling effect on international interest in U.S. real estate, particularly from two of the largest sources of foreign demand: Britain and Germany.

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