A much larger share of foreign buyers pay in cash, with 44% paying all-cash over the past year compared to 24% among all existing home buyers in the US. International buyers are also more likely to be purchasing the property as a second home, with 44% using it as a vacation home, rental, or both, compared to 17% among all existing-home buyers.

The most homes bought by foreigners were purchased by people from nearby Canada and Mexico. Buyers from Canada made up 11% of foreign buyer home purchases, up from 8% in the prior period. Buyers from Mexico purchased 8% last year, up from 7%. They were followed by buyers from China, India, Brazil, Colombia, Germany, the United Kingdom, France, and Japan.

The share of international buyers is expected to increase, even in the face of supply shortages that have pushed home prices higher and rising mortgage rates.

"The strong dollar may deter some foreigners from buying here in the US," said Yun. "But many are purchasing in all cash, so the swings in the dollar isn't a deal breaker. They will begin to step up in the next year."

A much larger share of foreign buyers pay in cash, with 44% paying all-cash over the past year compared to 24% among all existing home buyers in the US. International buyers are also more likely to be purchasing the property as a second home, with 44% using it as a vacation home, rental, or both, compared to 17% among all existing-home buyers.

The most homes bought by foreigners were purchased by people from nearby Canada and Mexico. Buyers from Canada made up 11% of foreign buyer home purchases, up from 8% in the prior period. Buyers from Mexico purchased 8% last year, up from 7%. They were followed by buyers from China, India, Brazil, Colombia, Germany, the United Kingdom, France, and Japan.

The share of international buyers is expected to increase, even in the face of supply shortages that have pushed home prices higher and rising mortgage rates.

"The strong dollar may deter some foreigners from buying here in the US," said Yun. "But many are purchasing in all cash, so the swings in the dollar isn't a deal breaker. They will begin to step up in the next year."