Demand from International Homebuyers Surges

Despite unaffordability concerns among domestic homebuyers, the share of U.S. homebuyers who live outside the country surged over the past year. According to the National Association of Realtors’ 2025 International Transactions in U.S. Residential Real Estate report, foreign buyers purchased $56 billion worth of homes in the U.S. from April 2024 through March 2025. This figure represents a 33.2% increase from the previous 12-month period.

Overall, international buyers purchased 78,100 homes from April 2024 to March 2025, which is an increase of 44% from the prior year and the first year-over-year increase since 2017. Additionally, at $494,400, the median home purchase price for foreign buyers was at 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," 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—7% 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."