Florida Still Top Destination for International Homebuyers, 15 Years Running
Foreign buyers poured $56 billion into U.S. residential real estate over the past year, snapping a six-year streak of declining interest and signaling a resurgence in global appetite for American housing, according to a new report from the National Association of Realtors (NAR).
From April 2024 to March 2025, international buyers snapped up 78,100 existing homes–a 44% jump from the previous year and the first annual increase in foreign purchases since 2017. The dollar volume rose by more than one-third year-over-year, driven in part by a record median home price of $494,400 paid by overseas investors.
“The post-pandemic global recovery has reenergized demand for U.S. property,” said Lawrence Yun, NAR’s chief economist. “Still, high home prices and borrowing costs continue to keep total sales activity well below pre-COVID levels.”
Foreign investment activity was concentrated in sunbelt states and coastal markets, with Florida once again claiming the top spot for international buyers. The Sunshine State captured 21% of all foreign purchases, extending its streak as the top destination for at least 15 years. California (15%), Texas (10%), New York (7%), and Arizona (5%) followed.
A Return to U.S. Real Estate – With Cash in Hand
Amid a landscape of elevated mortgage rates and tight credit conditions, nearly half of all international buyers–47%–paid entirely in cash, nearly double the share of all domestic buyers. International investors also gravitated toward higher-end properties, further boosting overall price averages.
Buyers from China led the charge, accounting for 15% of all foreign purchases with an estimated $13.7 billion in transaction volume. Canada followed with 14% of deals ($6.2 billion), then Mexico (8%, $4.4 billion), India (6%, $2.2 billion), and the United Kingdom (4%, $2 billion).
Roughly 56% of international buyers were already residing in the U.S. as recent immigrants or visa holders, responsible for $26.9 billion in volume. The remaining 44%–buyers living abroad–accounted for $29.1 billion, a sign that U.S. real estate continues to attract cross-border capital despite geopolitical and macroeconomic headwinds.
Tariffs, Tight Credit, and Global Headwinds
The data, collected before the U.S. announced new tariff policies in April 2025, captures a window of relative economic optimism before escalating trade tensions began to complicate the outlook. While future reports may reflect a cooling effect, the recent surge suggests international investors remain drawn to the U.S. by its legal protections, stable economy, and long-term growth prospects.
“The U.S. stands out globally for the security it offers real estate investors, especially around private property rights,” said Yun. “That remains a key driver for foreign capital, particularly in uncertain times.”
Despite the rebound, international investment levels are still well below their 2017 peak, when foreign buyers spent over $150 billion on U.S. real estate. Whether this year’s resurgence marks the beginning of a sustained recovery or a temporary rebound remains to be seen. But for now, the global market is once again knocking on America’s front door.
