Foreign buyers purchased $45.3B in U.S. existing homes, NAR says

Foreign buyers purchased $45.3 billion in U.S. existing homes from April 2025 through March 2026, a 19.1% drop in dollar volume and a 14% decline in the number of properties, according to the National Association of Realtors’ (NAR) 2026 International Transactions in U.S. Residential Real Estate report, published on Wednesday.

NAR Chief Economist Lawrence Yun said the pullback in foreign homebuyer activity mirrors a slowdown in international visitors to the United States. A slightly weaker U.S. dollar over the past year — which technically boosts foreign purchasing power — “did not induce more activity,” he said in the association’s announcement.

The report, based on a survey of 4,970 Realtors conducted in April 2026, covers international client purchases and sales of U.S. residential property between April 2025 and March 2026. Only 381 respondents reported at least one international residential buyer, underscoring how small the niche has become relative to the broader market.

Foreign buyers remain a small but concentrated slice of the market

International buyers purchased an estimated 67,100 existing homes during the 12‑month period, down from 78,100 a year earlier and the second-lowest level since NAR began tracking the segment in 2009. That represents 1.7% of approximately 4.07 million existing-home sales and 2.0% of the estimated $2.3 trillion in sales volume, according to the report.

The median purchase price for foreign buyers was $465,000, compared with $413,600 for all existing-home buyers. The average foreign purchase price was about $669,500, down 6.9% year over year, as higher borrowing costs and limited inventory pushed some demand to lower price points, according to NAR’s data.

Despite higher costs, 48% of foreign buyers paid all cash, far above the 28% share among all existing-home buyers. That cash-heavy profile makes the group relevant in competitive coastal and Sun Belt markets even as volumes decline.

Resident vs. non-resident buyers

Resident foreign buyers — recent immigrants and non‑immigrant visa holders living in the United States (Type B) — accounted for 37,600 purchases, or 56% of all foreign transactions, with an estimated volume of $21.8 billion, according to the report. 

Non-resident foreign buyers (Type A), whose primary residence remains abroad, purchased 29,500 homes, or 44% of foreign purchases, totaling $23.5 billion in volume. While non-residents bought fewer properties, they spent more on average per transaction.

Canada and Mexico lead by volume; China leads by dollars

Canada returned as the top country of origin by number of purchases, accounting for 16% of foreign buyers, or about 10,700 homes, up from a 14% share in the prior period. Mexico climbed into the second spot with a 14% share and an estimated 9,400 purchases.

China — defined as buyers from mainland China, Hong Kong and Taiwan — fell to third by unit count with an 11% share, or about 7,400 homes. However, Chinese buyers remained the largest source of dollar volume at $7.6 billion, reflecting an average purchase price near $1 million and a heavy concentration in high-cost markets such as California and New York. 

India ranked fourth with 9% of foreign buyers and $3.7 billion in purchases, while the United Kingdom accounted for 4% and $1.2 billion in volume. Altogether, the top five countries represented roughly half of foreign-buyer dollar volume.

Florida, California and Texas remain top destinations

Foreign demand remained highly concentrated in a handful of states. Florida attracted 20% of all foreign buyers, maintaining its long-running lead thanks to resort markets and winter climate appeal. California followed with 19% of foreign buyers, while Texas captured 12%.

New Jersey and Georgia each drew 4% of international buyers, reflecting both proximity to major gateways and relative affordability compared with global hubs.