Buyers have reduced their purchases of U.S. homes in the past year, yet are paying more for residential real estate in Florida, California and more.
International buyers have significantly reduced their purchases of U.S. homes in the past year, yet they are paying more for residential real estate than ever before.From April 2023 to March 2024, foreign buyers purchased $42 billion in U.S. residential properties, marking a 21.2 percent decline from the previous year, according to the National Association of Realtors .
California ranks third, attracting 11 percent of foreign buyers. The state is a top destination for Asian buyers, particularly from China, who account for a significant portion of the foreign market. California's renowned universities, temperate climate, and direct international flights enhance its appeal.Arizona and Georgia round out the top five states, with Arizona attracting 5 percent and Georgia 4 percent of foreign buyers.
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