Foreign home transactions in the U.S. are on the rise, with numbers increasing from 54,300 to 78,100 year-over-year. While still down from the peak of 284,500 in 2017, this marks a reversal from a previous decline that began that year. Factors contributing to this trend include the softening of the U.S. dollar, increased inventory, and attractive opportunities for cash buyers. The U.S. is perceived as a secure investment option compared to other countries, particularly in locations like Florida and New York.
Foreign investor activity eased as global uncertainty around the pandemic, and inventory shortages made the U.S. market less attractive. However, the U.S. dollar has softened, inventory has picked up, and buyers have pulled back, creating opportunities for foreign investors, especially those paying in all-cash.
Compared to many countries where property rights can be murky or taxed aggressively, the U.S. is still seen as one of the most secure places to place capital in real assets.
The Sunshine State remains No. 1 with foreign buyers. Even with currency fluctuations and shifting geopolitics, the combination of strong property rights, no state income tax, and a historically resilient luxury market make this region a very attractive long-term investment.
The foreign buyer has quietly reemerged in Manhattan this year, with New York almost doubling its share of international buyers.
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