Foreign demand for U.S. housing weakened nationwide over the latest reporting period, with international buyers purchasing fewer homes and spending less overall. Florida remained the country’s top destination, however, and South Florida—particularly Miami-Dade County—continued to draw substantial international investment despite broader market pressures.
Key takeaways
International buyers purchased 67,100 existing U.S. homes worth $45.3 billion from April 2025 through March 2026, according to the National Association of Realtors.
- Total purchases fell 14% year over year.
- Spending declined 19.1%, or nearly $11 billion.
- Florida attracted 20% of international buyers, the largest state share.
- South Florida international purchases rose to $4.4 billion in separate regional data.
- Miami-Dade represented 73% of South Florida’s reported international transactions.
The national decline marks one of the weakest periods for foreign purchases since NAR began tracking the market in 2009. Yet the results also highlight Miami’s continuing appeal as an international real-estate hub.
National foreign buying reaches a low point
International buyers accounted for approximately 1.7% of all existing-home sales. The median purchase price fell to $465,000, down from the previous year’s record of $494,400.
Several factors contributed to the pullback, including elevated home prices, limited inventory, immigration concerns and geopolitical uncertainty. Realtors also reported that a decline in international travel reduced the number of prospective buyers visiting the United States. A somewhat weaker dollar, which improved purchasing power for some buyers, was not enough to offset those challenges.
Florida remains the leading destination
Florida attracted one-fifth of foreign buyers nationwide, followed by California at 19% and Texas at 12%. New Jersey and Georgia each accounted for 4%.
The state’s appeal reflects its established international communities, warm climate, tax environment and broad range of housing options. Within Florida, Miami and the wider South Florida market continued to stand out, even as national demand softened.
Miami bucks the national trend
Separate data from the MIAMI Association of Realtors showed international buyers purchased approximately $4.4 billion in South Florida residential property during its 2025 reporting period, up from $3.1 billion a year earlier. The number of properties purchased increased from 4,000 to 5,300.
Miami-Dade County accounted for about $3.2 billion of those transactions and 73% of the region’s international purchases. Roughly 45% of Florida’s foreign home purchases took place in the Miami-Fort Lauderdale-West Palm Beach market.
Although the national and regional reports cover different periods and populations, their results point to sustained international interest in South Florida. Colombia and Argentina were the leading sources of foreign buyers in the region.
Buyer profiles and market implications
Canada was the largest source of foreign buyers across the United States, representing 16% of purchases. Mexico accounted for 14%, followed by China at 11%. Chinese buyers spent the most overall—about $7.6 billion—and had an average purchase price of roughly $1 million.
Cash remained a defining feature of international demand. Nearly 48% of foreign buyers paid cash, compared with 28% of all existing-home purchasers. That purchasing power can make international buyers especially influential in competitive luxury and coastal markets such as Miami.
The contrasting national and Miami results suggest that foreign demand is becoming more selective rather than disappearing. While economic uncertainty and affordability pressures are causing many buyers to wait, Miami continues to benefit from deep international connections and strong appeal among high-net-worth purchasers.
- Miami demand stays strong as foreign home buying falls | Real Estate, IslanderNews.com.