America's High Mortgage Rates Aren't Deterring Foreign Buyers
Summary
More foreign buyers are purchasing homes in the U.S., even as fewer Americans are buying due to high mortgage rates and increasing prices. These foreign buyers often pay in cash and are less affected by high mortgage rates. The weak U.S. dollar this year made homes cheaper for foreign investors.Key Facts
- Home sales to foreign buyers totaled $56 billion through March 2025, a rise of one-third from the previous year.
- Domestic home sales in the U.S. have had the worst season in over ten years.
- Foreign buyers often pay in cash, with 47% of their purchases being all-cash deals, compared to 28% overall.
- The U.S. dollar's value fell by 11% in the first half of the year, making homes cheaper for foreign investors.
- There are now an estimated 45.6 million renter-occupied housing units in the U.S., up from 39.7 million in 2010.
- Despite high mortgage rates, foreign buyers still invest in U.S. real estate, viewing it as a safe investment.
- Rental prices have stabilized, but 85% of landlords raised rent prices in 2024.
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