Well, well, well... look who’s making a comeback. For the first time since 2017, foreign buyers are once again diving into the U.S. housing market — and not just dipping a toe in. According to the National Association of REALTORS®’ latest “2025 International Transactions in U.S. Residential Real Estate” report, international purchases of existing homes jumped a whopping 44% compared to the previous year. That’s a big move, even if total numbers are still hovering at the second-lowest level since 2009.
So what’s fueling this rebound? According to NAR’s Chief Economist Lawrence Yun, international buyers have re-entered the scene post-pandemic looking for opportunity — even as high interest rates and elevated home prices continue to make life harder for everyday buyers. (Because of course they do.)
Despite sluggish overall home sales in the U.S. — we’re talking the slowest annual pace in 30+ years — global buyers still managed to inject $56 billion into the market. That’s a 33% increase in dollar volume year over year. Turns out, the world still thinks U.S. real estate is a pretty good deal.
Why They’re Buying Here
Even with prices climbing, many U.S. cities still look like a bargain compared to global hot spots. Plus, there’s something foreign buyers seem to love about the good ol’ fashioned American principle of property rights. NAR also notes that international buyers typically shop the higher end of the market and bring their own bags of cash — with a median purchase price of $494,400 compared to the U.S. median of $408,500.
Translation: they’re not here for fixer-uppers.
In fact, 47% of foreign buyers paid all cash. That’s almost double the rate for U.S. buyers. And while local house hunters are praying for a rate drop, these global investors are skipping the mortgage game altogether.
REALTORS® Are Feeling the Shift
More agents are seeing international action too. Twenty percent of REALTORS® reported working with at least one foreign client last year — up from 15%. Whether it’s a vacation getaway, a rental property, or a second (or third) home, foreign buyers are back and browsing.
Who’s Buying, and Where?
Asia is leading the charge, with Chinese buyers reclaiming the top spot from our northern neighbors in Canada. Here’s how the leaderboard breaks down:
Top Foreign Buyers:
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China: 15% of foreign buyers, $13.7 billion spent
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Canada: 14%, $6.2 billion
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Mexico: 8%, $4.4 billion
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India: 6%, $2.2 billion
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United Kingdom: 4%, $2 billion
Top U.S. Destinations:
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Florida: 21% of all international purchases (yes, again — and still undefeated for 15+ years)
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California: 15% (thanks to increased activity from Chinese buyers)
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Texas: 10%
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New York: 7%
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Arizona: 5%
Let’s just say Florida isn’t just for snowbirds anymore — it’s also a global landing pad.
5 Key Trends Among Foreign Buyers
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They’re Big Spenders
Nearly 1 in 5 international buyers dropped over $1 million on their purchase. Chinese buyers led the pack with an average price of $1.2 million, often targeting pricey zip codes in California, New York, Maryland, and Hawaii. Mexican buyers came in second with an average of $705,300.
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They Love All-Cash Deals
Almost half of foreign buyers paid cash. With mortgage rates still playing hard to get, that cash advantage makes them competitive, especially in tight markets.
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Vacation and Investment Properties Are Hot
Around 50% bought homes to use as a vacation home, a rental, or both. Only 16% of U.S. buyers did the same. With strong rental demand and rising equity, it’s easy to see why more international buyers are choosing to invest.
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They’re Buying More Than Just Houses
Yes, 63% purchased single-family homes. But there’s a solid interest in condos (especially from Canadian buyers), and even residential land — with Mexican buyers leading the charge on land grabs.
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Deals Are Falling Apart More Often
Nearly 70% of REALTORS® said they had at least one foreign client back out of a deal. Why? The usual suspects: tight inventory, high prices, and financing challenges. Foreign buyers may come with deep pockets, but they’re still navigating the same tricky market.
How Real Estate Pros Are Tapping In
So how do agents find these international clients? Seventy-two percent said it came from referrals and personal connections — not slick websites or digital ads. The international game is still very much about relationships.
Smart agents are also taking it further by getting plugged into international networks. NAR has partnerships with over 100 real estate associations in 75+ countries. Plus, designations like the Certified International Property Specialist (CIPS) help agents learn how to serve this niche and grow their global business.
Bottom Line:
Foreign buyers are officially back on the scene, and they’re coming in strong — often with cash in hand and eyes on prime real estate. Whether they’re scooping up luxury homes, vacation condos, or investment properties, the international appetite for U.S. real estate is heating up again.
If you're in real estate, this is your cue to brush up on global trends, build international relationships, and maybe even learn to say “Welcome home” in a few new languages.
