Between April 2025 and March 2026, international buyers purchased the second fewest U.S. existing homes since 2009, according to a National Association of Realtors (NAR) report.

Foreign buyers bought 67,100 properties worth $45.3 billion during that 12-month period, a 19.1% decline in dollar volume from the previous year. The number of properties sold fell 14% from 78,100 a year earlier. The median purchase price for foreign buyers was $465,000, and 48% of buyers paid entirely in cash.

“The decline in foreign homebuyer activity mirrors the decline in international visitors and tourists to the United States,” Lawrence Yun, NAR’s chief economist, said in the report. “Even a slightly weaker U.S. dollar over the past year, which provides more purchasing power for foreigners, did not induce more activity.”

Canadians were the largest group of foreign buyers, accounting for 16% of purchases, up from 14% a year earlier. China, which led the previous year’s report, fell to third place but remained the largest source of dollar volume at $7.6 billion. Chinese buyers spent an average of about $1 million per purchase.

Buyers from Mexico made up 14% of the foreign home purchases. The Chinese buyers (including from mainland China, Hong Kong and Taiwan) spent the most overall because they bought higher-priced homes, specifically in California, Yun said. Buyers from India and the United Kingdom rounded out the top five countries of origin.

“Florida, with its beaches and favorable winter climate, continues to be the top state to draw foreign buyers,” he added.

The Sunshine State attracted 20% of foreign purchases, followed by California (19%), Texas (12%), New Jersey (4%) and Georgia (4%).

Among all foreign purchases, 37,600 homes (56%) were bought by recent immigrants or visa holders residing in the U.S. Those transactions totaled $21.8 billion. International buyers living abroad purchased the remaining 29,500 homes, representing $23.5 billion in sales.