Foreign Buyers Spent $56 Billion on U.S. Homes—Locals Feel the Pressure

Foreign real estate investment in the United States jumped sharply over the past year. According to the National Association of Realtors, international buyers spent $56 billion on U.S. homes between April 2024 and March 2025.

That’s a 33% increase from the year before and the first yearly rise since 2017. Foreign buyers purchased 78,100 homes—a 44% increase over the previous 12 months.

The average price they paid reached $494,400, a record high. Nearly half of them paid in full with cash, avoiding mortgages and rising interest rates. Most homes bought were in the high-price segment.

Florida remained the top destination, making up 21% of international purchases for the fifteenth straight year. Other popular states included California, Texas, New York, and Arizona.

Buyers from China made the largest investments: 15% of all foreign home purchases and $13.7 billion in spending. Canadians came next with 14% of deals, followed by Mexico at 8%, then India and the United Kingdom.

Of all foreign purchases, 56% came from buyers already living in the U.S., such as recent immigrants or people on visas. The remaining 44% were made by buyers living abroad, purchasing American property from outside the country.

Foreign Investors Return to U.S. Housing Market

What’s driving this wave? Economic recovery after the pandemic and growing concerns about political instability in other regions. Many foreign investors see U.S. property—especially in states with strong legal protections for private owners—as a safe place to put their money.

High U.S. house prices and interest rates pushed many to avoid loans by paying upfront in cash. While still below pre-pandemic levels, this renewed foreign demand is shaping market conditions in key states.

It adds competition for limited housing, which can push prices even higher, especially in areas where locals already struggle to afford homes.

This trend brings in billions but raises critical questions. Who can afford to live in cities where properties are increasingly owned by people from abroad? And what impact does it have on local families competing to buy a home?

This report relies solely on official figures from the National Association of Realtors and includes no estimates or speculation. All data is verified and reflects factual activity in the U.S. housing market.

Top International Buyers