“Sales activity from U.K. buyers could very well subside over the next year depending on how severe the economic fallout is,” Yun said. “However, with economic instability and political turmoil outside of the U.S. likely to persist, the world view of American real estate as a safe investment should keep demand firm even as pressures from a stronger dollar continue to weigh down on affordability.”
Translation: The loss of U.K. buyers won’t be a huge blow and we think the housing market can withstand Brexit. Stay tuned.