Nearly 150,000 to 190,000 homes were purchased by international buyers from May 2007 to May 2008 according to NAR (national association of realtors). The foreign nationals purchased properties from Florida, California, Texas, Arizona, New York, Washington and Nevada. International buyers were able to buy U.S. homes because of the weakening U.S. dollar and falling home prices.

NAR estimates that nearly 40 percent of international buyers paid cash to buy the homes, whereas last year it accounted to only 28 percent. An increase of 12 percent compared to last year. The largest number of foreign buyers was from Canada, followed by United Kingdom, Mexico, china, India and Germany. Canadian buyers purchased about 23.5 percent of homes and 14 percent was purchased by China. Domestic buyers were less when compared to foreign buyers.