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Despite all the external factors cooling down overall home sales – high interest rates, less spending power among residents, lack of inventory—real estate transactions are still hot in certain key areas. What, and more importantly, who is behind the growth? Given what is indicated in the National Association of REALTORS® report on international transactions, it may not be the buyer you expect. Despite reported stagnated sales and slow growth in inventory, why are these specific Sunbelt areas still considered attractive for buyers? International investment is one answer. Florida remains the top destination for foreign buyers, with 20% of all foreign buyers purchasing in the state, according to the 2024 NAR report. International buyers who purchased a home in the last year spent record amounts, averaging $780,300 per property and a median of $475,000 home buyers, according to NAR’s report. That’s far above the median spend for all buyers at $392,600. Higher-end properties are also not off the table for foreign investors – about 18% of international buyers purchased properties worth more than $1 million, the report shows.