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alifornia ranked as the top destination for Chinese homebuyers, who spent $13.7 billion on U.S. homes between April 2024 and March 2025. According to a report from the National Association of Realtors, foreign buyers purchased 78,100 residential properties nationwide during this period, a 44% increase from the previous year.

    The total dollars spent by foreign buyers jumped to $56 billion, a 33% increase from the previous year. The median price paid on a home purchase reached a record-high of $494,400, surpassing the national median sales price of $408,500. Nearly one in five (18%) foreign buyers purchased properties worth over $1 million.

    California saw significant activity, with Chinese citizens representing the biggest share of overseas buyers and accounting for nearly a quarter ($13.7 billion) of overall dollars spent on housing. This amount is more than double what Chinese buyers spent a year earlier.

    Foreign buyers are drawn to investing in American real estate due to strong protection of private property rights. However, elevated home prices and interest rates continue to dampen sales activity, which remains below pre-pandemic levels.

    China and Canada outpaced other countries as the top sources of foreign buyers, with China accounting for 15% of all homes purchased among international buyers. Chinese buyers spent $13.7 billion on U.S. homes, up significantly from $7.5 billion compared to the previous year.

    California moved ahead of Texas as the second most popular destination for foreign buyers, after Florida remained the top destination for the 16th consecutive year. The majority (57%) of California's foreign buyers came from Asia/Oceania, followed by Latin America (18%).

    Nearly half (47%) of international buyers made all-cash purchases, compared to 28% among all buyers. All-cash offers accounted for 56% of home purchases made by non-resident foreign buyers.

    More than two-thirds of Chinese buyers and approximately three-fifths of U.K. and Canadian buyers made an all-cash purchase. Vacation homes on the rise, with nearly half (47%) of foreign buyers purchasing property for use as a vacation home or rental property.