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hinese nationals dominated foreign purchases of US homes for the second consecutive year, according to a National Association of Realtors (NAR) report. Their spending increased by 83% compared to the previous year, reaching $13.7 billion out of a total of $56 billion spent by foreign buyers between April 2024 and March 2025.

    Chinese buyers accounted for 15% of all foreign purchases, purchasing 11,700 homes out of 78,100. They paid an average price of $1,168,800 and a median price of $759,600, the highest among top five foreign buyers.

    The surge in interest from Chinese buyers is partly attributed to China's real estate crisis, which has led to declining prices and stalled construction. According to Matt Christopherson, director of Business and Consumer Research at NAR, Chinese buyers are seeking alternative investment opportunities due to the challenges facing their domestic market.

    "The Chinese housing market has been slow to recover following the pandemic, so Chinese buyers see a beneficial opportunity in diversifying their investment portfolios with exposure to stronger US markets," Christopherson said. "China's continued investments in US mortgage-backed securities further shows their interest and confidence in American markets."

    California was the top destination for Chinese homebuyers, accounting for 36% of all their purchases. Maryland and New York followed closely, each representing 9% of all Chinese buyers' purchases. The majority of Chinese buyers (57%) are resident buyers, often purchasing detached single-family homes for primary residence or residential rental.

    Christopherson attributed the popularity of California among Chinese buyers to its proximity to China, business opportunities, and stronger cultural ties. He also noted that low affordability in California brings strong rental demand, presenting an opportunity for investment buyers.