NAR Report Details Demographics of California Homebuyers

Nearly 60 percent of international homebuyers in California hail from Asia or Oceania, according to a new National Association of Realtors report.

Fifteen percent of foreign buyers who purchased a residential property in the U.S. bought in California, SF Gate reported, citing a new National Association of Realtors report, which tracked data from last April to this March. Of those California buyers, 57 percent were from Asia or Oceania, followed by Latin America at 18 percent.

Homebuyers from China led the way, accounting for 15 percent of the homes in the U.S. purchased by foreigners. California was the “top destination” for Chinese buyers, according to the report.

“Chinese buyers are drawn to California due to its proximity to China, business opportunities from moving to the world’s fourth-largest economy, and stronger cultural ties to the population in certain markets,” Matt Christopherson, a business and consumer research director at the National Association of Realtors, told SF Gate. “Additionally, low affordability in California brings strong rental demand, presenting an opportunity for those investment buyers purchasing residential rentals.”

Real estate professionals saw a 33 percent increase in international clients compared to the year prior, according to the data cited by SF Gate. In total, buyers from outside the U.S. spent $56 billion on homes in the country from April 2024 to March 2025, gobbling up 34,400 homes, up from 23,300 the year before.

All-cash deals were especially popular among international buyers in the U.S. due in part to limited housing stock, currency exchange rates and stagnant mortgage rates, according to the report cited by SF Gate. During the April-to-March study period, 56 percent of international buyers bought homes in cash. That number was even higher among Chinese homebuyers, with 71 percent buying properties in cash at an average home price of $1.2 million.

The report aligns with anecdotal evidence from Bay Area real state agents who recently told the San Francisco Business Times about their changing client base.

— Chris Malone Méndez