According to a August edition of Realtor magazine (USA), Canadians have long been investors in U.S. real estate. They make up 11 percent of international buyers; that ranks them third behind buyers from Mexico (13 percent) and the United Kingdom (12 percent), according to the 2007 NAR Profile of International Home Buying Activity, the most recent study tracking international buyers.
With softening real estate prices, the U.S. market is a bargain for Canadians. The loonie has risen roughly 60 percent against the U.S. dollar from its 2002 low. As of early June, 97 Canadian cents bought one U.S. dollar.
Mike Kent, a sales associate at Windermere Real Estate in the resort area of Birch Bay, Wash., also has been buoyed by neighbors from the north. He says 80 percent of his buyer pool is Canadian. “The greatest phenomenon is three to four miles from the border.” Where are Canadians buying? In addition to near the Canadian border, primarily the Sunbelt states-Arizona and Florida.Got to www.realtor.org
Posted by: bruce
Categories:
Uncategorized
