Foreigners continued to move to the U.S. in search of homes over the past year, but the numbers declined a bit.
The total dollar amount that foreign buyers spent on existing U.S. homes between April 2022 and March 2023 fell 9.6% from one year prior, to $53.3 billion in transactions, according to the National Association of Realtors’ 2023 report on international transactions in the U.S. residential real estate market.
The number of existing homes foreign buyers purchased during the period decreased by 14% to 84,600, the lowest level since NAR began estimating foreign buyer purchases in 2009.
Still, there are many states that remain especially attractive to foreign homebuyers. Following are the top states for home purchases by people from other countries from April 2022 to March 2023.
Florida
Share of all foreign-homebuyer purchases made in this state: 23%
People from all over the world have been moving to Florida for many decades, so it’s no surprise that foreigners continue to flock to the state.
Florida draws large numbers of homebuyers from Canada. Residents of Colombia also see the Sunshine State as an attractive option.
In fact, Florida is far and away the most popular state among all foreigners buying a home in the U.S.
California
Share of all foreign-homebuyer purchases made in this state: 12%
Although California has seen population growth stall in recent years, it remains a hit with those from abroad. That’s especially true of people in China, and also in India.
Texas
Share of all foreign-homebuyer purchases made in this state: 12%
Texas has long been a popular choice for those moving from Mexico, and the Lone Star State continues to attract folks from around the rest of the world.
North Carolina
Share of all foreign-homebuyer purchases made in this state: 4%
North Carolina has it all — mountains, coastline and a couple of major Southern cities. Immigrants from around the world appear to have noticed.
Arizona
Share of all foreign-homebuyer purchases made in this state: 4%
Arizona is another place that attracts folks from around the world who are looking for warm weather and new opportunities.
Illinois
Share of all foreign-homebuyer purchases made in this state: 4%
Illinois is home to one of the greatest cities in the U.S. and the world — Chicago. That city’s reputation probably woos folks from across the pond.
New York
Share of all foreign-homebuyer purchases made in this state: 3%
No place in the U.S. can match New York City’s reputation for attracting immigrants. Generations of “huddled masses” from around the world have come to the Big Apple.
Ohio
Share of all foreign-homebuyer purchases made in this state: 3%
Ohio is home to three major cities — Cincinnati, Cleveland and Columbus. That means immigrants will find plenty of opportunity here.
Pennsylvania
Share of all foreign-homebuyer purchases made in this state: 2%
Both Philadelphia and Pittsburgh have rich histories and reputations for attracting immigrants looking for a better life.
New Jersey
Share of all foreign-homebuyer purchases made in this state: 2%
If New York seems like too big of a bite, next-door New Jersey can offer an easier-to-digest portion for those moving to the northeastern U.S.
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