The median price of homes purchased by international buyers rose to a record $494,400, representing a 4.1% increase from the previous year. Interest in U.S. real estate grew due to the global economic recovery from pandemic disruptions. However, high home prices and interest rates limited overall sales activity. Foreign buyers living in the U.S. purchased 43,700 homes worth $26.9 billion, while buyers living abroad bought 34,400 homes for $29.1 billion. Florida continued to attract the most foreign buyers, with China leading as the top country of origin for purchases.
The median price of homes bought by international buyers climbed to a record $494,400, a 4.1% rise from the prior year, amidst increased international interest in U.S. real estate.
Florida remained the most popular destination for international buyers, attracting 21% of foreign buyers, marking at least 15 consecutive years in the top spot.
China led among countries of origin for foreign buyers, making up 15% of foreign purchases and spending $13.7 billion on U.S. homes.
Nearly half (47%) of all international purchases were made in cash, compared to 28% among all buyers nationwide, indicating a trend due to high mortgage rates.
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