Foreign buyers purchased a significantly higher percentage of U.S homes during the 12-month period ended March 2025 compared with the previous 12-month period, a report from the National Association of Realtors shows.
International buyers purchased $56 billion worth of U.S. homes during that period – an increase of 33.2% compared with a year earlier, according to NAR’s International Transactions in U.S. Residential Real Estate report.
It should be noted that home sales have slowed to a trickle during the past two years due to higher mortgage rates in the 6.5%-6.9% range, higher home prices and reduced affordability.
Still, international buyers purchased 78,100 properties, up 44% from the prior year and the first year-over-year increase since 2017, NAR says.
The median purchase price for foreign buyers of $494,400 was a record high.
“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,” says Lawrence Yun chief economist for NAR, in a statement. “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 percent compared to 28 percent among all buyers – and they were more likely to purchase homes priced in the upper end of the market,” Yun says. “Foreign buyers are drawn to investing in American real estate, in part, by our country’s strong protection of private property rights.”
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, according to the report.
Foreign buyers who lived abroad purchased 34,400 homes (44% of all foreign purchases) with a total dollar volume of $29.1 billion.
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