WASHINGTON. D.C. — Foreign buyers purchased $56 billion worth of U.S. existing homes from April 2024 through March 2025, according to the National Association of Realtors 2025 International Transactions in U.S. Residential Real Estate report. This is a 33.2% increase from the previous 12-month period. International buyers purchased 78,100 properties, up 44% from the prior year and the rst yearover-year increase since 2017. The median purchase price for foreign buyers of $494,400 was a record high.
“International interest in buying U.S. real estate increased following the global economic recovery from several years of pandemic-related disruptions. However, elevated home prices and interest rates continue to dampen overall potential sales activity and remain well below pre-pandemic levels,” said NAR Chief
International buyers spend big on U.S. homes
Economist Lawrence Yun. “Boosted by a signi cant increase in the state’s housing inventory, Florida remained the top destination for foreign home buyers, extending a streak of at least 15 years. To some degree, due to stubbornly high mortgage rates, a greater share of international homebuyers paid cash — 47% compared to 28% among all buyers — and they were more likely to purchase homes priced in the upper end of the market. Foreign buyers are drawn to investing in American real estate, in part, by our country’s strong protection of private property rights.”
NAR’s 2025 International Transactions in U.S. Residential Real Estate report surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2024 through March 2025 — capturing data before new tari s were announced in April 2025. This report equips real estate professionals with valuable information ■ See BUYERS, page 4
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Florida’s luxury neighborhoods continue to draw international real estate buyers.
National Association of Home Builders is projecting that remodeling will post solid gains in 2025, followed by more modest but still positive growth in 2026.
Remodeling market sentiment dips
National Association of Home Builders News release
The National Association of Home Builders recently released its NAHB/Westlake Royal Remodeling Market Index for the second quarter, posting a reading of 59, down four points compared to the previous quarter. While the reading of 59 is still in positive territory, this is only the second time the RMI has dipped below 60 since the survey was revised in the rst quarter of 2020.
The NAHB/Westlake Royal RMI survey asks remodelers to rate ve components of the remodeling market as “good,” “fair” or “poor.” Each question is measured on a scale from 0 to 100, where an index number above 50 indicates that a higher share view conditions as good than poor. The results of the RMI are seasonally adjusted.
The Current Conditions Index is an average of three components: the current
market for large remodeling projects, moderately-sized projects and small projects. The Future Indicators Index is an average of two components: the current rate at which leads and inquiries are coming in and the current backlog of remodeling projects. The overall RMI is calculated by averaging the Current Conditions Index and the Future Indicators Index. Any number over 50 indicates that more remodelers view remodeling market conditions as good than poor.
“Most remodelers continue to express positive sentiment, but some, especially in the western part of the country, are seeing a slowing of activity in their markets,” said NAHB Remodelers Chair Nicole Goolsby Morrison, a remodeler from Raleigh, N.C. “Those who report a slowdown have cited economic uncertainty stemming from government policies as the main reason.
Photo courtesy Getty Images
Buyers
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that helps them serve their clients and get to their next transaction.
Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased 43,700 homes (56% of all foreign purchases) with a total dollar volume of $26.9 billion. Foreign buyers who lived abroad purchased 34,400 homes (44% of all foreign purchases) with a total dollar volume of $29.1 billion.
Existing-home purchases by foreign buyers
• $56 billion: Dollar volume, up 33.2% from $42 billion
• 78,100: Total purchases, up 44% from 54,300
• $494,400: Median price, a record high, up 4.1% from $475,000
Remodeling
Continued from
“Although remodeler sentiment so ened in the second quarter, overall it remains positive,” said NAHB Chief Economist Robert Dietz. “High interest rates and economic uncertainty are headwinds for remodeling, but not to the extent that they have been for single-family construction. Even with these headwinds, NAHB is projecting that remodeling will post solid gains in 2025, followed by more modest but still positive growth in 2026.”
The Current Conditions Index averaged 66, dropping ve points compared to the previous quarter. All three components remained above 50 in positive territory: the component measuring large remodeling projects ($50,000 or more) slipped two points to 62, the component measuring moderate remodeling projects (at least $20,000 but less than $50,000) fell six points to 66, and the component measuring small-sized remodeling projects (under $20,000) dropped six points to 70.
The Future Indicators Index averaged 51, down four points compared to the previous quarter. The component measuring the current rate at which leads and inquiries are coming in remained unchanged compared to the previous quarter at 51, and the component measuring the backlog of remodeling jobs fell six points to 52.
• 47%: Share who made all-cash purchases
Top 5 countries of origin
• China: 15%; 11,700; $13.7 billion
• Canada: 14%; 10,900; $6.2 billion
• Mexico: 8%; 6,200; $4.4 billion
• India: 6%; 4,700; $2.2 billion
• United Kingdom: 4%; 3,100; $2 billion
Top 5 U.S. destinations
• Florida: 21%
• California: 15%
• Texas: 10%
• New York: 7%
• Arizona: 5%
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