Canadians Largest International Buyers of US Property

Canadians, in spite of a high US dollar, are still buying U.S. properties in large numbers. They purchased 30% of all Florida property sales 2013, to international buyers, 6% of all sales. Growing at 4% annually, 4m Canadians visit each year and pay $500m in U.S. property taxes.  They are closer than Europeans, and though most sales are cash, it is easy to get a mortgage through a Canadian bank that operates in the U.S. Mostly snowbirds, they stay longer, averaging 6 months and arrive earlier than other American buyers. The National Association of Realtors reported that in September Canadians were the most active foreign consumers on realtor.com. The most popular property searched cities were New York, Los Angeles, Las Vegas, Fort Lauderdale and Orlando, FL.

Leave a Reply