Due to stubbornly high mortgage rates, a greater share of international home buyers paid cash—47% compared to 28% among all buyers.
Another important provision in the OBBBA raises the SALT deduction cap from $10,000 to $40,000 for taxpayers earning less than $500,000, effective from 2025 to 2029, before reverting to $10,000 thereafter.
Leasing activity surged this quarter to over 360,000 square feet, a 45% increase from the first quarter of this year, with renewals representing 57% of executed transactions.
Due to stubbornly high mortgage rates, a greater share of international home buyers paid cash—47% compared to 28% among all buyers.
WASHINGTON—Foreign buyers purchased $56 billion worth of U.S. existing homes from April 2024 through March 2025, according to the National Association of Realtors 2025 International Transactions in U.S. Residential Real Estate report released today (July 14).
This was a 33.2% increase from the previous 12-month period. International buyers purchased 78,100 properties, up 44% from the prior year and the first year-over-year increase since 2017. The median purchase price for foreign buyers of $494,400 was a record high, NAR reported.
New York State ranked fourth among the top U.S. destinations among foreign buyers during that period at 7%.
“International interest in buying U.S. real estate increased following the global economic recovery from several years of pandemic-related disruptions. However, elevated home prices and interest rates continue to dampen overall potential sales activity and remain well below pre-pandemic levels,” said NAR Chief Economist Lawrence Yun. “Boosted by a significant increase in the state’s housing inventory, Florida remained the top destination for foreign home buyers, extending a streak of at least 15 years. To some degree, due to stubbornly high mortgage rates, a greater share of international home buyers paid cash—47% compared to 28% among all buyers—and they were more likely to purchase homes priced in the upper end of the market. Foreign buyers are drawn to investing in American real estate, in part, by our country’s strong protection of private property rights.”
NAR's 2025 International Transactions in U.S. Residential Real Estate report surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2024 through March 2025 – capturing data before new tariffs were announced in April 2025. This report equips real estate professionals with valuable information that helps them serve their clients and get to their next transaction.
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 43,700 homes (56% of all foreign purchases) with a total dollar volume of $26.9 billion. Foreign buyers who lived abroad purchased 34,400 homes (44% of all foreign purchases) with a total dollar volume of $29.1 billion.
To view the full report, go to: https://www.nar.realtor/research-and-statistics/research-reports/international-transactions-in-u-s-residential-real-estate
Another important provision in the OBBBA raises the SALT deduction cap from $10,000 to $40,000 for taxpayers earning less than $500,000, effective from 2025 to 2029, before reverting to $10,000 thereafter.
Leasing activity surged this quarter to over 360,000 square feet, a 45% increase from the first quarter of this year, with renewals representing 57% of executed transactions.
The One Big Beautiful Bill Act includes multiple NAR-championed provisions designed to support homeownership, drive investment in housing supply, and strengthen the real estate economy.
The report noted that in Westchester County, the luxury segment remains particularly strong, with significant buyer activity in the $2-million-and-above category.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
