Foreign demand for American housing fell sharply in the latest National Association of Realtors data, adding to signs of a cooling cross-border property market. Between April 2025 and March 2026, foreign buyers purchased $45.3 billion worth of existing US homes, a 19.1% drop in dollar volume from the prior period.
The report also showed one of the weakest transaction totals on record, with deal count reaching its second-lowest level since the series began. That points to a broad pullback by overseas purchasers rather than a minor shift in pricing alone.
The trend is notable for New York as well. Once one of the biggest draws for international real-estate money, the state is no longer in the top five destinations for foreign buyers, according to the description of the data.
Taken together, the figures suggest that foreign appetite for US residential property remains under pressure. The headline frames that retreat alongside Zohran Mamdani, but the clearest takeaway from the available data is a nationwide slowdown in foreign buying and a weaker position for New York in the competition for global housing demand.
