Foreign buyers sank $56B into US homes over the last year — with 1 state accounting for nearly a quarter of their purchases
After a long pandemic-era layover, foreign homebuyers are finally unpacking their wallets — and Florida seems to be their favorite landing strip.
International buyers poured $56 billion into US residential real estate between April 2024 and March 2025, marking a 33% jump in dollar volume from the previous year, according to a report released Monday by the National Association of Realtors.
In total, the buyers snapped up 78,100 homes nationwide, a 44% increase and the first year-over-year rise since 2017.
“International interest in buying US real estate increased following the global economic recovery from several years of pandemic-related disruptions,” Lawrence Yun, NAR’s chief economist, said in the report.
However, the report stops short of capturing the impact of recent geopolitical shifts.
Given its time span surveyed, the data reflects activity just before President Trump’s sweeping tariff announcement in early April — an event that’s already being tied to softening demand, particularly from Canadian buyers.
Still, during the study’s timeframe, the median sale price among these transactions hit a record $494,400, with nearly half of international buyers paying in cash.
“To some degree, due to stubbornly high mortgage rates, a greater share of international home buyers paid cash — 47% compared to 28% among all buyers — and they were more likely to purchase homes priced in the upper end of the market,” Yun added.
The top foreign spenders included buyers from China, who accounted for 15% of deals, followed by Canada (13%), Mexico (8%), India (6%) and the UK (4%).
As in years past, Florida remained the undisputed capital of foreign buyer interest, accounting for 21% of all purchases.
“Boosted by a significant increase in the state’s housing inventory, Florida remained the top destination for foreign home buyers, extending a streak of at least 15 years,” Yun said.
California ranked second, with Texas, New York and Arizona rounding out the top five.
Still, the rebound has not fully returned to its pre-pandemic strength.
“Elevated home prices and interest rates continue to dampen overall potential sales activity and remain well below pre-pandemic levels,” Yun noted.