Christopherson said the wider drop-off defies the simple currency logic that normally governs foreign buying behavior. Florida remained the top destination overall, drawing 20% of foreign buyers, trailed by California (19%) and Texas (12%). While America's pull on foreign buyers is fading, the outbound flow of U.S. capital into foreign real estate is quietly accelerating — and NAR's own data shows it's concentrated among the ultrawealthy. About one in ten NAR respondents reported U.S. clients searching for property abroad, and those buyers are paying cash at an even higher rate than foreign buyers of American homes: 52%, compared with 48% among international buyers of U.S. property. Mexico and Portugal ranked as the top two destinations for these American buyers, with Canada in third.