Foreign buyers are bailing on the U.S. housing market. Here's why

, soaring home prices, a meager supply of homes for sale and a strong dollar all make the purchases much less financially attractive.

China, Mexico, Canada, India and Colombia were the top five countries of origin for international buyers of existing homes by number of houses, not dollar volume. The survey does not count new construction, where international buyers are also active. While foreign sales dropped overall, Chinese purchases did make sizable gains. The total of 2023 Chinese home purchases is the highest since 2018, which was one of the peak years for Chinese international property purchasing, according to Juwai IQI, an Asia-based international real estate technology group.

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