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Redfin Reports U.S. Home Prices Fall 5-10% From Last Year for Russian, Japanese and European Buyers as Dollar Weakens

U.S. homes are more expensive than a year ago in foreign currencies closely tied to the U.S., including neighbors Canada and Mexico and major trading partners China and India

SEATTLE--(BUSINESS WIRE)-- The median price of a U.S. home rose 1% to a record $447,035 in June, straining affordability for many Americans. But for international buyers using Russian, Japanese or European currencies, the typical home now costs 5% to 10% less than it did a year ago鈥攖hanks to a weaker U.S. dollar. That鈥檚 according to a new from , the real estate brokerage powered by Rocket.

U.S. home prices are down nearly 10% in Russian rubles

Of the foreign currencies Redfin examined, the Russian ruble strengthened the most against the U.S. dollar over the past year: As U.S. home prices rose 1%, the equivalent price fell 9.6% in rubles.

Homebuyers using Swiss francs or Swedish krona saw prices fall 8%, thanks to stronger exchange rates against the U.S. dollar.

Buyers using Japanese yen (-7.6%), euros (-5.6%) or British pounds (-5.3%) recorded the next biggest potential price savings of the currencies analyzed.

Not all currencies have benefited from the weaker greenback, however, with several losing value, largely due to countries鈥� close economic ties to the U.S.

U.S. homes became more expensive over the past year for buyers using the currencies from the top four countries where America鈥檚 foreign homebuyers originate from: Chinese yuan (+0.1%), Canadian dollar (+0.9%), Mexican peso (+5.7%) and the Indian rupee (+4%).

The U.S. dollar has weakened in 2025 amid economic uncertainty

The U.S. dollar dropped more than 10% in the first six months of the year in comparison to a handful of currencies from America鈥檚 largest trading partners鈥攖he worst start to a year in more than 40 years. Economists have cited President Trump鈥檚 tariff policies, U.S. government debt and the potential early nomination of a new Federal Reserve chair among the reasons for the depressed dollar.

It鈥檚 worth noting that foreign buyers who finance a home purchase with a U.S. mortgage may attract a slightly higher rate than domestic buyers. But with elevated mortgage rates and high prices keeping many domestic homebuyers on the sidelines, foreign buyers鈥攚ho are significantly more likely to pay for homes in cash鈥攁re in a position to take advantage of a real estate market that is already turning of buyers.

The National Association of AG真人官方tors say foreign purchases of existing homes increased in the 12 months between April 2024-March 2025, compared to the previous 12 months, but still lagged well behind the levels seen in the 2010s.

鈥淪ome foreign buyers may be considering stepping back into the market now because their currencies have gained ground against the dollar,鈥� said , Redfin鈥檚 head of economic research. 鈥淭heir money simply goes further than it did a year ago. It鈥檚 like getting a discount that domestic buyers can鈥檛 access.鈥�

Oakland offers biggest potential discount for buyers using foreign currencies

Potential foreign currency discounts are bigger (or smaller) in different parts of the country鈥攄ue to differences in year-over-year price growth in local markets.

The biggest potential savings for buyers using foreign currencies are, in order: Oakland, CA, West Palm Beach, FL, Jacksonville, FL, San Diego and Atlanta. That鈥檚 because those metro areas saw home prices fall the most year over year in June.

The five metros where prices grew the most over the past year鈥攁nd therefore have the smallest potential savings in foreign currencies鈥攁re Newark, NJ, Detroit, Cleveland, Pittsburgh and Nassau County, NY.

To view the full report, including charts and full metro-level data, please visit:

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin鈥檚 clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at . For more information about Rocket Companies, visit .

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Contact Redfin

Redfin Journalist Services:

Kenneth Applewhaite

[email protected]

Source: Redfin