International buying was up in the U.S. as of March 2025, with 78,100 existing homes totaling $56 billion being purchased by foreign buyers, according to data from the National Association of Realtors® (NAR).
NAR’s 2025 International Transactions in U.S. Residential Real Estate report surveyed NAR members about transactions with international clients who purchased and sold U.S. residential property from April 2024 through March 2025 (with data captured pre-tariff announcement in April).
The report found that international buying in the U.S. grew 33.2% from the previous six-month period. The amount of properties sold was up as well, increasing 44% from the prior year, the first year-over-year increase reported since 2017. The median price of $494,400 was also reportedly a “record high.”
NAR Chief Economist Lawrence Yun said that interest from foreign buyers “increased following the global economic recovery from several years of pandemic-related disruptions.”
“Foreign buyers are drawn to investing in American real estate, in part, by our country’s strong protection of private property rights,” he continued.
Of the international purchases, almost half (47%) were all-cash, compared to 28% for domestic home purchases. Yun explained that this was “to some degree, due to stubbornly high mortgage rates.”
Foreign buyers who reside in the U.S. made up 56% of all foreign purchases with a total dollar volume of $26.9 billion, while buyers who lived abroad made up 44% of all foreign purchases with a total dollar volume of $29.1 billion.
In terms of where buyers are originating from, China led the pack with 15% of buyers and $13.7 billion in sales. Canada came in second with 14% of buyers and $6.2 billion in sales, followed by Mexico (8%; $4.4 billion), India (6%; $2.2 billion) and the United Kingdom (4%; $2 billion).
As for where these buyers ended up purchasing property, Florida was the overall favorite with 21% of purchases. Yun noted that Florida has been the international buying hotspot for at least the past 15 years.
California came in second with 15% of purchases, followed by Texas with 10%, New York with 7% and Arizona with 5%.
Despite growth in international buying, Yun noted that activity remains “well below pre-pandemic levels” due to “elevated home prices and interest rates.”
Looking ahead, foreign buying could potentially receive a hit due to rising inflation from the Trump administration’s tariffs, which may also affect housing construction and home prices.
