Foreign Buyers Flee U.S. Housing—but It Won’t Help American Buyers
Summary
Foreign buyers purchased fewer homes in the U.S. between April 2025 and March 2026, dropping by 14 percent to one of the lowest levels since 2009. However, this decrease does not significantly help American buyers because many Americans are still struggling to afford homes due to high prices and mortgage rates.Key Facts
- Foreign buyers bought 67,100 U.S. homes from April 2025 to March 2026, which is 1.7% of all home sales and 14% less than the previous year.
- These buyers spent $45.3 billion on homes, making up 2.0% of all U.S. home sales value, down 19% from the year before.
- Homes bought by foreigners were more expensive on average ($465,000) than those bought by Americans ($413,600).
- Nearly half (48%) of foreign home purchases were paid entirely in cash, compared to 28% overall.
- Most foreign buyers came from Canada (16%), Mexico (14%), China (11%), India (9%), and the United Kingdom (4%).
- Popular states for foreign buyers were Florida (20% of purchases), California (19%), Texas (12%), New Jersey (4%), and Georgia (4%).
- The decline in foreign buyers reflects lower numbers of international visitors and geopolitical uncertainties, despite a slightly weaker U.S. dollar.
- Experts say foreign buyers make up a small part of the housing market, so their drop in buying does not greatly affect American housing affordability, which depends more on factors like home supply and mortgage rates.
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