So what does all this foreign interest mean to U.S. buyers? According to Trulia Chief Economist Jed Kolko, it drives up home prices and creates more competition in sought-after neighborhoods. But whether this interest from across the ocean holds steady in the face of rising prices has yet to be seen.

“Prices have been rising in the U.S. at a rate that wasn’t anticipated. U.S. real estate [for foreigners] is looking like less of a good investment than it did a year ago,” he said.