Key facts
- Foreign buyers purchased 67,100 U.S. homes in the 12 months through March 2026, a 14% decrease year-over-year.
- The total dollar volume of these purchases was $45.3 billion, down 19% from the prior year.
- Chinese buyers fell to third place among foreign purchasers, down from first place in the previous year.
- State-level laws restricting foreign nationals from buying property are cited as a reason for the decline.
- The median price of homes purchased by foreign buyers was $465,000, compared to $413,600 for U.S. residents.
- Florida, California, and Texas were the top destinations for foreign homebuyers.
Fewer Chinese nationals are purchasing homes in the United States, a trend attributed to a rise in state-level restrictions targeting foreign property ownership and broader geopolitical and economic factors. In the 12 months through March 2026, foreign buyers acquired 67,100 homes, a 14% decrease from the previous year, marking the second-lowest level since 2009. The total dollar volume of these transactions fell 19% to $45.3 billion.
Chinese buyers, who previously held the top position, have slipped to third place among foreign purchasers. Despite this decline in volume, Chinese buyers continue to spend the most on average per purchase, acquiring higher-priced dwellings, particularly in California. The median price for homes bought by foreign buyers was $465,000, significantly higher than the $413,600 median for homes bought by U.S. residents.
According to NAR's report, geopolitical uncertainty, trade tensions, and elevated property costs have prompted international buyers to adopt a cautious approach. The most common reasons cited by foreign individuals who did not purchase a home were the inability to find a suitable property and affordability concerns. Immigration laws were also a barrier for some.
Florida remained the most popular destination for foreign buyers, accounting for 20% of purchases, followed by California (19%) and Texas (12%). Buyers from neighboring countries, Canada and Mexico, comprised the largest share of overall foreign buyers in terms of housing units purchased. However, the report notes that the overall impact of foreign buyers on the U.S. housing market is limited, with domestic factors like housing supply, construction levels, and mortgage rates being more significant drivers of affordability.