International Buyers Spent $45.3 Billion on US Existing Homes, Down 19.1% to Second-Lowest Since 2009
International buyers purchased $45.3 billion of US existing homes from April 2025 to March 2026, down 19.1% year-on-year, with 67,100 units sold, a 14% decline and the second-lowest total since 2009. Resident foreign buyers accounted for 56% of transactions, and 48% of all international buyers paid cash. Slower immigration processing and fewer international students weighed on demand, while some wealthy Americans sought overseas properties, with 52% paying cash.
International buyers' purchases of US existing homes fell to $45.3 billion, down 19.1% year-on-year, with the number of homes purchased dropping to 67,100 units, down 14%—the second-lowest level since tracking began in 2009. Data show that during the period from April 2025 to March 2026, international buyers' interest in US real estate declined markedly, a trend consistent with the decrease in international tourist and visitor arrivals to the US.
Resident foreign buyers purchased 37,600 homes, accounting for 56% of all foreign transactions, with a total value of $21.8 billion; non-resident buyers purchased 29,500 homes, representing 44%, with a total value of $23.5 billion. Among international buyers, 48% paid in all cash, far above the 28% average for all US existing-home buyers. The survey showed that 33% of surveyed brokers reported clients giving up on buying due to an inability to find suitable properties, 28% cited high home prices, and 19% mentioned immigration-law-related issues.
Slower immigration processing and a decline in international students have become two major drags on the market. In fiscal year 2025, the number of new lawful permanent residents in the US edged down 2.7% to 1.32 million; in the first quarter of fiscal year 2026, the number of cases processed plunged 41% year-on-year, while the backlog surged nearly 50%. In spring 2026, new international undergraduate and graduate enrollments at US universities fell 20% and 24% year-on-year, respectively, putting downward pressure on housing demand.
About half of international buyers purchased homes for vacation, rental investment, or both, while only 17% of all US existing-home buyers did so for these purposes. Meanwhile, some wealthy US families are also seeking properties abroad. About one in ten surveyed brokers said they had US clients purchasing overseas properties, with an all-cash payment ratio as high as 52%, higher than the 48% for international buyers. Mexico and Portugal were the most favored destinations, followed by Canada.
A report from residency and citizenship planning firms shows that in 2025, the number of US nationals applying for overseas residency and citizenship surged twofold year-on-year. Currently, about two-thirds of family offices deploy assets across at least three different jurisdictions.