Overview

• Chinese investors spent $13.7 billion to acquire 11,700 U.S. homes over the past year, nearly doubling their purchases from the prior period.
• That 83% year-on-year increase made Chinese nationals the largest group of foreign homebuyers for the first time since 2017.
• Chinese purchasers paid an average of $1.17 million per property and were likelier than any other foreign group to complete transactions in all cash.
• Thirty-six percent of Chinese acquisitions were in California, with Maryland and New York each accounting for 9% of their U.S. home purchases.
• Overall international spending on existing U.S. homes jumped 33% to $56 billion—the first annual rise since 2017—and new state and federal measures now restrict property purchases by nationals of designated security-threat countries.