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use the logo and terms.
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Close

* Research & Statistics
Market Behavior

Including home buying and selling, commercial, international, NAR member
information, and technology. Use the data to improve your business through
knowledge of the latest trends and statistics.
* Highlights & News
Get the latest top line research, news, and popular reports.
Close

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is available.
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practitioners.
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which you live and work.
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trends.
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Representing Your Industry

NAR is widely considered one of the most effective advocacy organizations in
the country.
* Advocacy Issues & News
* Federal Advocacy
From its building located steps away from the U.S. Capitol, NAR advocates
for you.
Close

* REALTORS® Political Action Committee (RPAC)
Promoting the election of pro-REALTOR® candidates across the United
States.
Close

* State & Local Advocacy
Resources to foster and harness the grassroots strength of the REALTOR®
Party.
Close

* REALTOR® Party(link is external)
A powerful alliance working to protect and promote homeownership and
property investment.
Close

* Get Involved
Now more than ever, it is critical for REALTORS® across America to come
together and speak with one voice.
Close

* Education
Advancing Your Career

NAR and its affiliated Institutes, Societies, and Councils offer a wide
selection of real estate training options.
* All Education & Professional Development
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and client base.
Close

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Fulfill your COE training requirement with free courses for new and
existing members.
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* Continuing Education (CE)
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a license.
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* Designations & Certifications
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awarded by NAR and its affiliates.
Close

* Library & Archives
Offering research services and thousands of print and digital resources.
Close

* Commitment to Excellence (C2EX)
Empowers REALTORS® to evaluate, enhance and showcase their highest levels
of professionalism.
Close

* NAR Academy at Columbia College
Academic opportunities for certificates, associates, bachelor’s, and
master’s degrees.
Close

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Stay current on industry issues with daily news from NAR. Network with other
professionals, attend a seminar, and keep up with industry trends through
events hosted by NAR.
* Latest News
* NAR Newsroom
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Close

* REALTOR® Magazine
Advancing best practices, bringing insight to trends, and providing timely
decision-making tools.
Close

* Blogs
Commentary from NAR experts on technology, staging, placemaking, and real
estate trends.
Close

* Newsletters
Stay informed on the most important real estate business news and business
specialty updates.
Close

* NAR NXT, The REALTOR® Experience
* REALTORS® Legislative Meetings
* AE Institute
* C5 Summit
* Leadership Week
* iOi Summit
* Sustainability Summit
* All Events

* About NAR
Who We Are

America's largest trade association, representing 1.5 million+ members,
including NAR's institutes, societies, and councils, involved in all aspects
of the residential and commercial real estate industries.
* Mission, Vision, and Diversity & Inclusion
* Code of Ethics
* Leadership & Staff
National, state & local leadership, staff directories, leadership
opportunities, and more.
Close

* Committee & Liaisons
* History
Founded as the National Association of Real Estate Exchanges in 1908.
Close

* Affiliated Organizations

* Strategic Plan
NAR’s operating values, long-term goals, and DEI strategic plan.
Close

* Policies
* Governing Documents
Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state &
local associations.
Close

* Awards & Grants
Member recognition and special funding, including the REALTORS® Relief
Foundation.
Close

* NAR's Consumer Outreach

* More
Browse by Section

View All
* Top Directories
* Find a Member(link is external)
* Browse All Directories
* Find an Office(link is external)
* Find an Association(link is external)
* NAR Group and Team Directory
* Committees and Directors(link is external)

* By Role
* Broker
* Association Executive
* New Member
* Student
* Appraiser
* State & Local Volunteer Leader

* By Specialty
* Commercial
* Global
* Buyer's Rep
* Senior Market
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* Land(link is external)
* Green

* Multimedia
* Infographics
* Videos
* Quizzes

* Video Series
* First-Time Buyer(link is external)
* Level Up
* Window to the Law
* Next Up: Commercial
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1. Home
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News & Events
Newsroom

TopNAR Media ContactsStatistical Release ScheduleOp-Eds & Letters to the
EditorNAR Fact SheetNAR in the News

ANNUAL FOREIGN INVESTMENT IN U.S. EXISTING-HOME SALES DECLINED 9.6% TO $53.3
BILLION

NUMBER OF EXISTING HOMES BOUGHT BY INTERNATIONAL BUYERS DECLINED TO 84,600 – THE
FEWEST SINCE 2009

August 1, 2023
Media Contact:
Troy Green 202-383-1042
International Real Estate
Section Menu
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KEY HIGHLIGHTS

* International buyers purchased $53.3 billion worth of U.S. residential
properties from April 2022 to March 2023, down 9.6% from the previous year.
The 84,600 existing homes sold – the lowest since NAR began tracking in 2009
– retreated 14.2% from the prior year.
* The average ($639,900) and median ($396,400) purchase prices for
international buyers were the highest ever recorded by NAR.
* China, Mexico, Canada, India and Colombia were the top five countries of
origin by number of U.S. existing homes purchased. The top U.S. destinations
for foreign buyers were Florida (23%); California and Texas (12% each); and
North Carolina, Arizona and Illinois (4% each).

WASHINGTON (August 1, 2023) – Foreign buyers purchased $53.3 billion worth of
U.S. existing homes from April 2022 through March 2023, slipping 9.6% from the
previous 12-month period, according to a new report from the National
Association of Realtors®. Foreign buyers purchased 84,600 properties, down 14.2%
from the prior year and the fewest number of homes bought since 2009, when NAR
began tracking this data. Overall, U.S. existing-home sales totaled 5.03 million
in 2022, down 17.8% from 2021.

"Sharply lower housing inventory in the U.S. and higher borrowing costs across
the world have dented international buyers for two straight years," said NAR
Chief Economist Lawrence Yun. "However, recovering international travel
following the end of the pandemic will bring more foreign transactions in coming
months and years."

NAR's 2023 Profile of International Transactions in U.S. Residential Real Estate
surveyed members about transactions with international clients who purchased and
sold U.S. residential property from April 2022 through March 2023. Foreign
buyers who resided in the U.S. as recent immigrants or who were holding visas
that allowed them to live in the U.S. purchased $23.4 billion worth of U.S.
existing homes, a 31.4% decrease from the prior year and representing 44% of the
dollar volume of purchases. Foreign buyers who lived abroad purchased $29.9
billion worth of existing homes, up 20% from the 12 months prior and accounting
for 56% of the dollar volume. International buyers accounted for 2.3% of the
$2.3 trillion in existing-home sales during that period.

The average ($639,900) and median ($396,400) existing-home sales prices among
international buyers were the highest ever recorded by NAR – and 7% and 8.3%
higher, respectively, than the previous year. The increase in prices for foreign
buyers reflects the increase in U.S. home prices, as the median sales price for
all U.S. existing homes was $384,200. At $1.23 million, Chinese buyers had the
highest average purchase price, with a third – 33% – purchasing property in
California. In total, 15% percent of foreign buyers purchased properties worth
more than $1 million from April 2022 to March 2023.

China and Canada remained first and second in U.S. residential sales dollar
volume at $13.6 billion and $6.6 billion, respectively, continuing a trend going
back to 2013. Mexico ($4.2 billion), India ($3.4 billion) and Colombia ($0.9
billion) rounded out the top five.

"Home purchases from Chinese buyers increased after China relaxed the world's
strictest pandemic lockdown policy, while buyers from India were helped by the
country's strong GDP growth," Yun added. "A stronger Mexican peso against the
U.S. dollar likely contributed to the rise in sales from Mexican buyers."

For the 15th consecutive year, Florida remained the top destination for foreign
buyers, accounting for 23% of all international purchases. California and Texas
tied for second (12% each), followed by North Carolina, Arizona and Illinois (4%
each).

"Florida, Texas and Arizona continue to attract foreign buyers despite the hot
weather conditions during the summer and the significant spike in home prices
that began a few years ago," Yun said.

All-cash sales accounted for 42% of international buyer transactions compared to
26% of all existing-home buyers. Non-resident foreign buyers (52%) were more
likely to make an all-cash purchase than resident foreign buyers (32%).
Two-thirds of Colombian buyers (67%) made all-cash purchases, the highest share
among the top five foreign buyer nations. Approximately half of Canadian (51%)
and Chinese (47%) buyers made all-cash purchases. Asian Indian buyers were the
least likely to pay all cash, at just 15%.

Half of foreign buyers purchased their property for use as a vacation home,
rental property, or both – up from 44% the previous year. Almost three out of
five international buyers (59%) purchased detached, single-family homes.

"Fostering economic investment in culturally dynamic communities, businesses,
and industry is a top priority for NAR," said Charlie Dawson, NAR's vice
president of engagement and advocacy outreach. "Our work across the country
provides members and their communities with tools, resources and data to
identify and highlight international investment opportunities in U.S. real
estate. This acts as a key pillar in our efforts to further support local
communities to drive economic development in markets across the country. NAR and
the Realtor® brand has developed a network of partnerships with over 100 real
estate organizations across 77 countries providing growth opportunities by
ensuring ethical and accessible markets that allow our members to make direct
connections with global real estate professionals and international investors."

View the full 2023 Profile of International Transactions in U.S. Residential
Real Estate at:
nar.realtor/research-and-statistics/research-reports/international-transactions-in-u-s-residential-real-estate.

The National Association of Realtors® is America's largest trade association,
representing more than 1.5 million members involved in all aspects of the
residential and commercial real estate industries. The term Realtor® is a
registered collective membership mark that identifies a real estate professional
who is a member of the National Association of Realtors® and subscribes to its
strict Code of Ethics.

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