International Buyers Purchased $56 Billion Worth of U.S. Homes from April '24 to March '25
WASHINGTON—Foreign buyers purchased $56 billion worth of U.S. existing homes from April 2024 through March 2025, according to the National Association of Realtors 2025 International Transactions in U.S. Residential Real Estate report released today (July 14).
This was a 33.2% increase from the previous 12-month period. International buyers purchased 78,100 properties, up 44% from the prior year and the first year-over-year increase since 2017. The median purchase price for foreign buyers of $494,400 was a record high, NAR reported.
New York State ranked fourth among the top U.S. destinations among foreign buyers during that period at 7%.
“International interest in buying U.S. real estate increased following the global economic recovery from several years of pandemic-related disruptions. However, elevated home prices and interest rates continue to dampen overall potential sales activity and remain well below pre-pandemic levels,” said NAR Chief Economist Lawrence Yun. “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. 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. Foreign buyers are drawn to investing in American real estate, in part, by our country’s strong protection of private property rights.”
NAR's 2025 International Transactions in U.S. Residential Real Estate report surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2024 through March 2025 – capturing data before new tariffs were announced in April 2025. This report equips real estate professionals with valuable information that helps them serve their clients and get to their next transaction.
Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased 43,700 homes (56% of all foreign purchases) with a total dollar volume of $26.9 billion. Foreign buyers who lived abroad purchased 34,400 homes (44% of all foreign purchases) with a total dollar volume of $29.1 billion.
Existing-Home Purchases by Foreign Buyers
- $56 billion: Dollar volume, up 33.2% from $42 billion.
- 78,100: Total purchases, up 44% from 54,300.
- $494,400: Median price, a record high, up 4.1% from $475,000.
- 47%: Share who made all-cash purchases.
Top 5 Countries of Origin: Percent Share of Foreign Purchases, Existing Homes Purchased, Dollar Volume
- China: 15%; 11,700; $13.7 billion
- Canada: 14%; 10,900; $6.2 billion
- Mexico: 8%; 6,200; $4.4 billion
- India: 6%; 4,700; $2.2 billion
- United Kingdom: 4%; 3,100; $2 billion
Top 5 U.S. Destinations: Percentage of All Foreign Buyers
- Florida: 21%
- California: 15%
- Texas: 10%
- New York: 7%
- Arizona: 5%
Other Key Findings
- 47%: Foreign buyers who purchased a property for use as a vacation home, rental, or both (compared to 16% among all existing-home buyers).
- 77%: Foreign buyers who purchased a detached single-family home or townhome (compared to 90% of all existing-home buyers).
- 44%: Foreign buyers who purchased in a suburban area (similar to 45% among all existing-home buyers).
To view the full report, go to: https://www.nar.realtor/research-and-statistics/research-reports/international-transactions-in-u-s-residential-real-estate
