Foreign buyers bought $45.3 billion of U.S. existing homes from April 2025 through March 2026, according to the National Association of Realtors' 2026 International Transactions report. That's down 19.1% in dollars and 14% in homes from a year earlier — but one thing didn't change: Florida led every state as the top destination for international buyers, again. Here's what that means for the South Florida market.
Florida is still the #1 destination — even in a down year
This is the headline for anyone who owns or is buying property here: national foreign-buyer activity softened, yet Florida remained the single most popular state for international buyers. The reasons are the same ones that have made Florida a global magnet for decades — the weather, no state income tax, the lifestyle, and deep, established international communities from Miami to the Gulf Coast. When the overall pie shrinks and Florida still takes the largest slice, that tells you how durable the demand is.
The national picture: down, but far from gone
The pullback was real. Foreign purchases fell 19.1% in dollar volume and 14% in units, to about 67,100 homes. NAR Chief Economist Lawrence Yun tied the slowdown to fewer international visitors overall, and noted that even a slightly weaker U.S. dollar — which technically boosts foreign purchasing power — “did not induce more activity.” It's also a genuinely small niche: of nearly 5,000 Realtors surveyed, only 381 reported even one international buyer. So this is a targeted slice of the market, not a broad wave — but in the right neighborhoods, it matters a lot.
Who's buying: Canada by the numbers, China by the dollars
Two countries led in different ways. Canada led by number of homes purchased — a lot of buyers, often in the mid-market and second-home range. China led by dollar volume, reflecting purchases concentrated at higher price points. For South Florida, both patterns show up: steady Canadian snowbird demand and higher-end international purchases in the luxury and condo tiers.
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What it means for South Florida sellers
Florida's #1 status means there's a real — if selective — pool of international buyers shopping here, and a meaningful share of them pay cash. If your home sits in a market with international appeal (Miami-Dade, the coastal and luxury/condo segments especially), marketing to that audience can widen your buyer pool and bring stronger, faster offers. The key is knowing which neighborhoods and price points actually draw foreign capital — it's concentrated, not everywhere.
What it means for buyers
If you're shopping in a market that attracts international money, expect to compete against cash offers at certain price points. That makes preparation matter more: get fully pre-approved, be ready to move, and lean on a local agent who knows exactly where foreign demand concentrates so you're not overpaying in a bidding war — or missing a better-value pocket nearby.
The bottom line
International buying cooled across the country, but Florida stayed on top — the #1 state foreign buyers choose. That global demand underpins values in South Florida's most sought-after markets, whether you're selling into it or buying alongside it. A local agent who tracks where that money actually lands turns the trend into a real strategy for your move.
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Frequently Asked Questions
Foreign buyers purchased about $45.3 billion of U.S. existing homes from April 2025 through March 2026 — down 19.1% in dollar volume and 14% in units (roughly 67,100 homes) from the prior year, per NAR's 2026 International Transactions report.
Florida — it led all states as the top destination for international buyers again, even as national foreign-buyer activity declined.
Down. Dollar volume fell 19.1% and the number of homes fell 14% year-over-year, which NAR tied to fewer international visitors overall.
Canada led by number of homes purchased, while China led by dollar volume (purchases concentrated at higher price points).
A meaningful share do, which is why international demand can bring strong, fast offers in the markets and price points where it concentrates — especially South Florida's coastal, luxury, and condo segments.
