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Top U.S. Real Estate Markets for 2025

The 10 Hottest Housing Markets for 2025 (Zillow, Jan. 14, 2025)

To come up with the list of hottest markets, Zillow analyzed the 50 largest U.S. metro areas for the following: 

• home value growth
• projected change in owner-occupied households
• job growth compared to new construction
• the speed at which homes are sold 

New jobs often attract new residents, and with that comes increasing competition for homes, which can drive home prices higher unless new construction can keep up with the revved up demand. And rising numbers of owner-occupied households is a sign of family formation and population growth. 

Foreign Investment Trends​ in the U.S.

Here’s Why International Buyers are Pulling Way Back from the U.S. Housing Market (CNBC, Jul. 17, 2024)

“We don’t have a credit score, we have a weird name, we have a different passport,” said Yuval Golan, CEO of Waltz, a new company that aims to facilitate foreign purchases of U.S. residential real estate. “Then we need to wire money across two countries, that takes time. There’s additional foreign currency exchange that we need to deal with, a bunch of titles are things we don’t know, like a title company, and a mortgage broker and a lender that might not understand our history of credit and income.”

Why Foreign Real Estate Investors Choose the U.S. (America Mortgages, May 17, 2024)

The most important concept in investing is diversification, which helps reduce risk and increase returns over time. Investing in U.S. real estate can help foreign national investors diversify their real estate investment portfolios by spreading their investments across different countries. By reducing risk and increasing returns through diversification, non-resident investors can achieve their investment goals more effectively.

Top 10 Countries Investing in Miami Real Estate (Condo BlackBook, Feb. 6, 2024)

With 15% of the total number of foreign buyers in Miami real estate, Colombia sits on the podium as number one. Many Colombians have historically viewed Miami as an accessible dream location to move to due to factors such as the ease of travel from its two major cities, Medellin and Bogota, and economic stability on Miami’s shores compared to at home.

Profile of International Transactions in U.S. Residential Real Estatepdf?_gl=1*pyyqla*_gcl_au*MTEzMzMwODgxMi4xNzAxMjY2NDQ4 (National Association of REALTORS®, 2024)

Top Foreign Buyers

• Canada (13% of foreign buyers, $5.9 B)
• China (11% of foreign buyers, $7.5 B)
• Mexico (11% of foreign buyers, $2.8 B)
• India (10% of foreign buyers, $4.1 B)
• Colombia (4% of foreign buyers, $0.7 B)

Top Destinations

• Florida (20%)
• Texas (13%)
• California (11%)
• Arizona (5%)
• Georgia (4%)

Investing in Foreign Markets

These 7 Countries Are a Smart Real Estate Investment (House Beautiful, Jan. 12, 2025)

Dubai is halfway around the world, but its tax-free environment (no income tax!) makes second homes here a good real estate investment. “The city’s booming economy and continuous infrastructure development make it a thriving real estate market, and it provides some of the highest rental yields globally, particularly in luxury and high-demand areas,” Easton says. But with everything this glamorous desert city has to offer—shopping, galleries, food tours, cultural sites, and even an indoor ski slope in the Mall of Emirates—you may want to use your house instead of renting it.

Looking for a Home Abroad? The Top 10 Cities for American Expats (realtor.com®, Nov. 9, 2024)

This small Latin American country takes the crown, with at least 4 in 5 expats (82%) saying they are happy with their life there (vs. 68% globally).

“Panama is an appealing choice for expats due to its proximity to the U.S. and generally safe environment,” says Corbin. “The location will need to be chosen carefully. Panama City, for example, is quite safe, though the health care system isn’t as robust as in European countries, and navigating the city streets can be a bit confusing. Despite these minor challenges, Panama remains an excellent option for expats, offering both city and coastal living.”

Best Countries to Buy Property as an American: 2025 Guide (Wise, Jul. 8, 2024)

Costa Rica is one of the best countries to invest in real estate, thanks to its natural beauty, warm culture, and thriving economy. It's often called the "Switzerland of Central America" because of its commitment to peace and stability.

With its beautiful beaches and lush rainforests, it's no wonder that many Americans go on a vacation to Costa Rica and never leave.
Costa Rica's local real estate agents will tell you that the country has strong property laws and opportunities for a high rental income.

What to Know Before You Buy a House Overseas — and 3 Steps to Smooth the Process (CNBC, May 10, 2024)

You also have to be mindful of the exchange rate on the foreign currency you will be transacting with, as well as the cost to trade your U.S. dollars. Fluctuations in rates, and the differences in banks’ rates and fees, can make a significant difference in how far your dollars go.

A bank wire is often the “least expensive way” to exchange currency, and with a large enough bank, they’ll have facilities that can reduce the cost of the foreign transfer like a favorable exchange rate, said Boudreaux.

But in most cases, the U.S. buyer will need to open a bank account in the country they’re buying real estate. And that process is not always straightforward.

eBooks & Other Resources

The following eBooks and audiobooks are available to NAR members:

Global Real Estate Investment Trusts (eBook)

Passport to Exotic Real Estate (eBook)

How to Invest In Offshore Real Estate and Pay Little or No Taxes (eBook)

International Real Estate Handbook (eBook)

Investing in International Real Estate For Dummies (eBook)

No Going Back - Buying Abroad (eBook)

Have an idea for a real estate topic? Send us your suggestions.

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