Foreign Real Estate Buyers Purchasing Homes in the US
The 2023 Overview of Global Transactions involving foreign real estate buyers in the U.S. Residential Real Estate sector offers insights into transactions involving REALTORS® and their interactions with foreign real estate buyers of U.S. residential properties throughout the span of April 2022 to March 2023.
The National Association of Realtors conducted an online survey between April 3 and May
8, 2023, this report draws from a survey disseminated to a sample of 150,000 REALTORS® chosen at random, along with members of local associations who also administered surveys targeting foreign buyers. To address potential discrepancies in sample representation across states, the National Association of REALTORS® (NAR) adjusted response distribution in alignment with the distribution of NAR members by state, as of May 2023. From this initiative, 7,425 REALTORS® participated in the nationwide market survey, with 951 among them reporting transactions involving international residential buyers. The insights pertaining to the traits of international clients are derived from the most recent closed transactions reported by survey respondents within the specified 12-month timeframe.
The term “international” or “foreign” client pertains to two distinct categories:
1. Non-resident foreigners (Type A): Individuals lacking U.S. citizenship, possessing permanent residences located outside of the United States.
2. Resident foreigners (Type B): Non-U.S. citizens categorized as recent immigrants (within two years of the transaction) or non-immigrant visa holders with U.S. residence exceeding six months, attributed to professional, educational, or other reasons.
Throughout this report, the terms “number of foreign buyers” and “number of properties purchased” are employed interchangeably, assuming a one-to-one correlation between a foreign buyer and the acquisition of a single property.
Survey Highlights on Foreign Real Estate Buyers
- $53.3 Billion – Dollar volume of foreign buyer residential purchases during April 2022–March 2023 (2.3% of $2.3 trillion of the dollar volume of existing-home sales)
- 84,600 – Number of foreign buyer existing-home purchases during April 2022–March 2023 (1.8% of 4.73 million existing-home sales)
- 51% – Foreign buyers who reside in the United States (recent immigrants; less than two years at the time of the transaction) or non-immigrant visa holders (Type B)
- $396,400 – Foreign buyer median purchase price (compared to $384,200 for all U.S. existing homes sold)
- 42% – Foreign buyers who paid all-cash (compared to 26% among all existing-home buyers)
- 50% – Foreign buyers who purchased a property for use as a vacation home, rental, or both (compared to 16% among all existing-home buyers)
- 76% – Foreign buyers who purchased a detached single-family home or townhome (compared to 89% of all existing-home buyers)
- 45% – Foreign buyers who purchased in a suburban area
Top Foreign Buyers
- China (13% of foreign buyers, $13.6 B)
- Mexico (11% of foreign buyers, $4.2 B)
- Canada (10% of foreign buyers, $6.6 B)
- India (7% of foreign buyers, $3.4 B)
- Colombia (3% of foreign buyers, $0.9 B)
Top Destinations
- Florida (23%)
- California (12%)
- Texas (12%)
- North Carolina (4%)
- Arizona (4%)
Our global marketing strategy puts your property in front of Foreign Real Estate Buyers 
Special Finds understands the importance of getting your property in front of global real estate buyers. We use cutting-edge technology, enabling your unique property to reach global buyers in addition to local buyers. US real estate is not just local. Ninety percent (90%) of searches are done online and show that an enormous population of buyers is coming from around the globe. You want to reach buyers who are International, National and Regional as well as Local.
Special Finds combines state-of-the-art technology along with creative and imaginative marketing campaigns to place your home in front of international buyers. Our results speak for themselves.