Foreign investment in U.S. residential real estate rebounded sharply in the 12 months through March, with overseas buyers spending $56 billion on 78,100 existing homes, according to the National Association of Realtors. The dollar volume rose 33% from the prior year—the first increase since 2017—while the number of homes purchased climbed 44%. The median price paid by international buyers reached a record $494,400, and 47% of deals were all-cash, nearly twice the share among domestic purchasers. Chinese nationals regained their position as the largest foreign buyer group, accounting for about 15% of total volume. They spent an estimated $13.7 billion on 11,700 homes, an increase of roughly 83% from the previous year, with most transactions conducted in cash. California drew the biggest slice of Chinese demand at close to one-third of their purchases. Florida remained the top destination overall, capturing 21% of foreign transactions, followed by California, Texas, New York and Arizona. Buyers from Canada ranked second in spending at $6.2 billion, trailed by investors from Mexico, India and the United Kingdom. While the resurgence underscores the appeal of U.S. property as a safe and liquid asset, total foreign investment is still well below the 2017 peak of more than $150 billion.