International interest in U.S. housing surged dramatically between April 2024 and March 2025, with global buyers spending a record $56 billion on existing homes—a 33.2% increase in dollar volume compared to the previous year. The number of foreign-owned transactions jumped by 44%, to 78,100 homes, marking the first annual rise since 2017.
Chief Economist Lawrence Yun of the National Association of Realtors (NAR) attributes the rebound to the global economic recovery following several years of pandemic-related disruptions. Currency fluctuations, especially favorable exchange rates, have also made U.S. property more appealing to international investors. This trend is further reinforced by the fact that nearly half of all foreign buyers paid in cash, compared to only 28% of domestic buyers. These buyers often targeted premium properties, helping push the median purchase price by international buyers to a record $494,400—a 4.1% increase from the prior year.
The United States continues to attract foreign capital due to its economic stability and strong protections for property owners. According to Yun, international investors are particularly drawn to the transparency of the U.S. legal and real estate systems, which offer safeguards often lacking in other countries.
Buyers came from across the globe, but five countries dominated the market. Chinese buyers led the way with 15% of all international purchases, spending $13.7 billion. Canadians followed at 14%, investing $6.2 billion. Mexico, India, and the United Kingdom rounded out the top five, accounting for 8%, 6%, and 4% respectively. In total, these countries made up a significant portion of foreign investment, with Chinese buyers spending more than twice as much as the next group.
Florida maintained its longstanding position as the top destination for foreign buyers, accounting for 21% of purchases. California reclaimed second place with 15%, followed by Texas at 10%, New York at 7%, and Arizona at 5%. The majority of foreign buyers were resident aliens—either immigrants or visa holders—making up 56% of purchases, while the remaining 44% were non-residents who purchased properties as investment or vacation homes.
These trends have immediate implications for real estate professionals. The increase in international demand offers new opportunities, particularly in creating multilingual marketing materials and building relationships with overseas agencies. Realtors who understand the complexities of working with foreign clients—such as differing tax structures, financing hurdles, and inspection processes—are more likely to close deals and build long-term client bases.
Luxury real estate is benefiting particularly strongly from this trend. High-end properties in cities like Miami, Los Angeles, and Austin are seeing renewed demand. Realtors operating in these markets should tailor their marketing to highlight exclusive amenities and lifestyle benefits that appeal to affluent foreign buyers.
For realtors, this is also a call to adapt to a shifting landscape. Understanding the motivations and challenges of foreign clients is no longer optional—it’s becoming essential. Many international buyers face unfamiliar U.S. tax codes, encounter hurdles with mortgage financing, and may be unaware of regional inspection protocols. Realtors who offer this kind of expertise position themselves as trusted advisors rather than just sales agents.
While the surge in foreign investment is notable, it’s important to view it in context. The market remains below its pre-pandemic peak, when more than 284,000 homes were sold to foreign buyers in 2017. Current numbers reflect a strong rebound but are not yet at full recovery. Moreover, interest rates remain high, and affordability continues to be a concern across the board.
Geopolitical factors may also affect the trend going forward. The survey period ended before the introduction of new U.S. tariffs in April 2025, which could dampen future interest from Canadian and other foreign buyers. Some early signs already suggest a cooling in Canadian demand amid these tensions.
Nonetheless, the current momentum points to a broader shift. As international buyers continue to reenter the U.S. housing market, realtors have a clear opportunity to expand their services and capture a growing segment of global investment. The time to act is now—through global outreach, upgraded marketing, and strategic partnerships, real estate professionals can thrive in this dynamic environment.
