- The median price of a typical U.S. home rose 1% to a record $447,035 in June.
- The equivalent price in Russian, Japanese and European currencies fell between 5% and 10% year over year in June—thanks to a weaker U.S. dollar.
- American 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.
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—thanks to a weaker U.S. dollar.
That’s according to a Redfin analysis of exchange rates for a selection of major foreign currencies against the U.S. dollar. The analysis converts the median U.S. home price into the equivalent value in foreign currencies using monthly average exchange rates.
U.S. home prices are down nearly 10% in Russian rubles
Of the foreign currencies we 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.
Median Price of U.S. Homes (June 2025) |
||
|
Currency |
U.S. Median Home Price In Different Currencies | Year-Over-Year Change |
| Russian ruble | ₽35,133,425 |
-9.6% |
|
Swiss franc |
₣363,712 | -8% |
| Swedish krona | kr4,267,953 |
-8% |
|
Japanese yen |
¥64,560,734 | -7.6% |
| EU euro | €387,793 |
-5.6% |
|
British pound |
£329,604 | -5.3% |
| Norwegian krone | kr4,492,645 |
-4.2% |
|
Chinese yuan |
¥3,211,816 | +0.1% |
| Canadian dollar | CA$611,397 |
+0.9% |
|
U.S. dollar |
$447,035 | +1% |
| Australian dollar | AU$687,376 |
+3.2% |
|
Indian rupee |
₨38,408,520 | +4% |
| Mexican peso | MX$8,507,283 |
+5.7% |
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’ 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’s 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’s largest trading partners—the worst start to a year in more than 40 years. Economists have cited President Trump’s 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’s 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—who are significantly more likely to pay for homes in cash—are in a position to take advantage of a real estate market that is already turning in favor of buyers.
The National Association of Realtors 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.
“Some foreign buyers may be considering stepping back into the market now because their currencies have gained ground against the dollar,” said Chen Zhao, Redfin’s head of economic research. “Their money simply goes further than it did a year ago. It’s like getting a discount that domestic buyers can’t access.”
Oakland offers biggest potential discount for buyers using foreign currencies
Potential foreign currency discounts are bigger (or smaller) in different parts of the country—due 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’s 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—and therefore have the smallest potential savings in foreign currencies—are Newark, NJ, Detroit, Cleveland, Pittsburgh and Nassau County, NY.
| Metro | U.S. dollar | Euro | Japanese yen | Britsh pound | Russian ruble | Chinese yuan | Mexican peso | Indian rupee | Norwegian krone | Swedish krona |
|---|---|---|---|---|---|---|---|---|---|---|
| Anaheim, CA | 3.80% | -3.10% | -5.10% | -2.70% | -7.20% | 2.80% | 8.60% | 6.80% | -1.60% | -5.50% |
| Atlanta, GA | -3.00% | -9.30% | -11.30% | -9.00% | -13.20% | -3.90% | 1.60% | -0.10% | -8.00% | -11.60% |
| Austin, TX | 0.00% | -6.60% | -8.60% | -6.20% | -10.60% | -0.90% | 4.60% | 2.90% | -5.20% | -8.90% |
| Baltimore, MD | 3.70% | -3.20% | -5.20% | -2.80% | -7.30% | 2.70% | 8.50% | 6.70% | -1.70% | -5.60% |
| Boston, MA | 3.70% | -3.20% | -5.20% | -2.80% | -7.30% | 2.70% | 8.50% | 6.70% | -1.70% | -5.60% |
| Charlotte, NC | 1.80% | -4.90% | -6.90% | -4.60% | -9.00% | 0.80% | 6.50% | 4.70% | -3.50% | -7.30% |
| Chicago, IL | 2.70% | -4.10% | -6.10% | -3.70% | -8.20% | 1.70% | 7.50% | 5.70% | -2.70% | -6.50% |
| Cincinnati, OH | 5.00% | -1.90% | -3.90% | -1.50% | -6.00% | 4.10% | 9.90% | 8.10% | -0.40% | -4.30% |
| Cleveland, OH | 8.10% | 1.00% | -1.10% | 1.40% | -3.30% | 7.10% | 13.20% | 11.30% | 2.50% | -1.50% |
| Columbus, OH | 5.10% | -1.80% | -3.80% | -1.40% | -5.90% | 4.20% | 10.00% | 8.20% | -0.30% | -4.20% |
| Dallas, TX | -1.20% | -7.70% | -9.60% | -7.30% | -11.60% | -2.10% | 3.40% | 1.70% | -6.30% | -10.00% |
| Denver, CO | 0.80% | -5.80% | -7.80% | -5.50% | -9.80% | -0.10% | 5.50% | 3.70% | -4.40% | -8.20% |
| Detroit, MI | 8.60% | 1.40% | -0.70% | 1.80% | -2.90% | 7.60% | 13.60% | 11.80% | 2.90% | -1.10% |
| Fort Lauderdale, FL | 0.90% | -5.70% | -7.70% | -5.30% | -9.70% | 0.00% | 5.70% | 3.90% | -4.30% | -8.00% |
| Fort Worth, TX | 0.00% | -6.60% | -8.50% | -6.20% | -10.50% | -0.90% | 4.70% | 2.90% | -5.20% | -8.90% |
| Houston, TX | -0.90% | -7.40% | -9.30% | -7.00% | -11.30% | -1.80% | 3.80% | 2.00% | -6.00% | -9.70% |
| Indianapolis, IN | 1.60% | -5.10% | -7.10% | -4.80% | -9.20% | 0.60% | 6.30% | 4.50% | -3.70% | -7.50% |
| Jacksonville, FL | -3.90% | -10.20% | -12.10% | -9.90% | -14.00% | -4.80% | 0.60% | -1.10% | -8.90% | -12.50% |
| Kansas City, MO | 2.80% | -3.90% | -6.00% | -3.60% | -8.00% | 1.90% | 7.60% | 5.80% | -2.50% | -6.30% |
| Las Vegas, NV | 0.90% | -5.80% | -7.70% | -5.40% | -9.80% | -0.10% | 5.60% | 3.80% | -4.40% | -8.10% |
| Los Angeles, CA | 2.70% | -4.10% | -6.10% | -3.70% | -8.10% | 1.70% | 7.50% | 5.70% | -2.60% | -6.40% |
| Miami, FL | 4.00% | -2.90% | -4.90% | -2.50% | -7.00% | 3.00% | 8.80% | 7.00% | -1.40% | -5.30% |
| Milwaukee, WI | 4.70% | -2.20% | -4.20% | -1.80% | -6.30% | 3.70% | 9.60% | 7.80% | -0.70% | -4.60% |
| Minneapolis, MN | 3.30% | -3.50% | -5.50% | -3.10% | -7.60% | 2.40% | 8.10% | 6.30% | -2.10% | -5.90% |
| Montgomery County, PA | 3.40% | -3.40% | -5.40% | -3.00% | -7.50% | 2.50% | 8.30% | 6.50% | -1.90% | -5.80% |
| Nashville, TN | 2.10% | -4.60% | -6.60% | -4.30% | -8.70% | 1.20% | 6.90% | 5.10% | -3.20% | -7.00% |
| Nassau County, NY | 6.40% | -0.60% | -2.70% | -0.20% | -4.80% | 5.40% | 11.40% | 9.50% | 0.90% | -3.10% |
| New Brunswick, NJ | 4.50% | -2.30% | -4.40% | -2.00% | -6.50% | 3.60% | 9.40% | 7.60% | -0.90% | -4.80% |
| New York, NY | 5.90% | -1.10% | -3.20% | -0.70% | -5.30% | 4.90% | 10.80% | 9.00% | 0.40% | -3.60% |
| Newark, NJ | 8.90% | 1.80% | -0.40% | 2.20% | -2.50% | 7.90% | 14.00% | 12.10% | 3.30% | -0.80% |
| Oakland, CA | -4.60% | -10.90% | -12.70% | -10.50% | -14.70% | -5.50% | -0.10% | -1.80% | -9.50% | -13.10% |
| Orlando, FL | -1.10% | -7.70% | -9.60% | -7.30% | -11.60% | -2.10% | 3.50% | 1.70% | -6.30% | -10.00% |
| Philadelphia, PA | 5.90% | -1.10% | -3.10% | -0.70% | -5.30% | 4.90% | 10.90% | 9.00% | 0.40% | -3.50% |
| Phoenix, AZ | -1.10% | -7.60% | -9.50% | -7.30% | -11.50% | -2.00% | 3.50% | 1.80% | -6.20% | -9.90% |
| Pittsburgh, PA | 6.90% | -0.10% | -2.20% | 0.20% | -4.40% | 5.90% | 11.90% | 10.00% | 1.30% | -2.60% |
| Portland, OR | 2.50% | -4.20% | -6.30% | -3.90% | -8.30% | 1.50% | 7.30% | 5.50% | -2.80% | -6.60% |
| Providence, RI | 5.00% | -1.90% | -4.00% | -1.50% | -6.10% | 4.00% | 9.90% | 8.10% | -0.50% | -4.40% |
| Riverside, CA | 2.10% | -4.70% | -6.70% | -4.30% | -8.70% | 1.10% | 6.80% | 5.00% | -3.20% | -7.00% |
| Sacramento, CA | 0.00% | -6.60% | -8.50% | -6.20% | -10.50% | -0.90% | 4.70% | 2.90% | -5.20% | -8.90% |
| San Antonio, TX | 2.20% | -4.50% | -6.50% | -4.10% | -8.50% | 1.30% | 7.00% | 5.20% | -3.10% | -6.90% |
| San Diego, CA | -3.10% | -9.40% | -11.30% | -9.10% | -13.30% | -4.00% | 1.50% | -0.20% | -8.10% | -11.70% |
| San Francisco, CA | 1.60% | -5.10% | -7.10% | -4.70% | -9.10% | 0.60% | 6.30% | 4.60% | -3.70% | -7.50% |
| San Jose, CA | 4.80% | -2.10% | -4.10% | -1.70% | -6.20% | 3.80% | 9.70% | 7.90% | -0.60% | -4.50% |
| Seattle, WA | 2.90% | -3.80% | -5.90% | -3.50% | -7.90% | 2.00% | 7.70% | 5.90% | -2.40% | -6.20% |
| St. Louis, MO | -0.40% | -7.00% | -8.90% | -6.60% | -10.90% | -1.40% | 4.20% | 2.50% | -5.60% | -9.30% |
| Tampa, FL | -2.60% | -9.00% | -10.90% | -8.60% | -12.80% | -3.50% | 2.00% | 0.30% | -7.60% | -11.20% |
| Virginia Beach, VA | 3.30% | -3.50% | -5.50% | -3.10% | -7.60% | 2.30% | 8.10% | 6.30% | -2.10% | -5.90% |
| Warren, MI | 1.50% | -5.20% | -7.10% | -4.80% | -9.20% | 0.60% | 6.30% | 4.50% | -3.70% | -7.50% |
| Washington, DC | 2.50% | -4.20% | -6.20% | -3.90% | -8.30% | 1.60% | 7.30% | 5.50% | -2.80% | -6.60% |
| West Palm Beach, FL | -4.10% | -10.40% | -12.30% | -10.10% | -14.20% | -5.00% | 0.40% | -1.30% | -9.10% | -12.70% |
| National | 1.00% | -5.60% | -7.60% | -5.30% | -9.60% | 0.10% | 5.70% | 4.00% | -4.20% | -8.00% |
