Foreign Buyers Spend Billions Less Than Last Year on U.S. Housing Market

Foreign buyers are pulling back from the U.S. housing market, purchasing significantly fewer homes and spending less compared to a year ago as high prices and tight inventory cool demand. From April 2025 through March 2026, international buyers closed on 67,100 existing homes nationwide, down 14% year over year, marking the second-lowest transaction level since 2009, according to the National Association of Realtors® 2025 International Transactions in U.S. Residential Real Estate report.This cohort of real estate clients invested $45.3 billion in U.S. homes, representing a decline of 19%, or $11 billion, from the previous 12-month period. Despite the shrinking sales volume, international buyers paid higher prices than their domestic counterparts, with the median purchase price registering at $465,000, compared to the national overall median of $413,600.In this report, "foreign" or "international" buyer refers to both foreign nationals living abroad, and non-U.S. citizens who are recent immigrants (less than two years at the time of the transaction) or visa holders living in the U.S."The decline in foreign home buyer activity mirrors the decline in international visitors and tourist...