{
  "id": 19672,
  "title": "Foreign buying of US homes falls 14% as Chinese remain top spenders despite state curbs",
  "url": "https://urgent.news/2026/07/31/foreign-buying-of-us-homes-falls-14-as-chinese-remain-top-spenders",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-07-31T00:00:38.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/article/3362454/foreign-buying-us-homes-falls-14-chinese-remain-top-spenders-despite-state-curbs"
  },
  "original_language": "en",
  "account": "Foreign purchases of US homes declined by 14 per cent over the past year, reaching the second-lowest level on record, according to a new report from the National Association of Realtors. Chinese buyers, who previously led the market, now rank third in terms of home buying volume, behind Canada and Mexico. They remain the top spenders, accounting for US$7.6 billion in purchases, an average of roughly US$1 million per property. Despite a favorable exchange rate, high prices and limited inventory continued to discourage foreign buyers. The decline in international activity aligns with a decrease in overall tourism to the US. Canadian and Mexican buyers, bordering the US, led the market in terms of property units purchased, while Chinese buyers focused on buying higher-priced homes in California. Florida was the most popular destination for foreign homebuyers, receiving 20 per cent of all international purchases. However, Florida has recently implemented stricter regulations, prohibiting non-US citizen and permanent resident Chinese buyers from purchasing property. Texas has also introduced a new law, effective in September, banning individuals and companies from China, Russia, Iran, and North Korea from buying land or property within the state, citing national security concerns. In total, foreign buyers spent US$45.3 billion on existing US homes, comprising 2 per cent of all home sales, marking a 19.1 per cent decline year-on-year.",
  "summary": "Foreign purchases of US homes fell to their second-lowest level on record between April last year and March, although Chinese buyers remained the largest spenders as they bought higher-priced properties primarily in California, a new report found. Chinese buyers, last year’s top group, fell to third place in terms of home buying volume, behind Canada and Mexico. India and the UK were in fourth…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Australian Dollar holds despite weak Chinese PMIs",
        "url": "https://urgent.news/2026/07/31/australian-dollar-holds-despite-weak-chinese-pmis",
        "published": "2026-07-31T16:05:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}