Canadians outpace all other foreign buyers in U.S. real estate market
According to many property companies in Europe the high levels of demand for US property are coming from the Far East and in particular Chinese Investors. According to the article below maybe some of these organisations should look to Canada as buyers are on the increase. Please register for more information on our properties available in the USA
Canadians are playing a larger role in the U.S. housing market than in any year since 2007 and they outpace buyers from China and Mexico by far, according to a new survey of American real estate brokers.
The survey by the Washington-based National Association of Realtors (NAR) said foreigners snapped up $82.5-billion (U.S.) worth of houses in the 12-month period ending March 31. That compared with $66.4-billion a year earlier.
Canadians made up the largest share of purchasers, accounting for 24 per cent of all international sales. That compared with 23 per cent in 2011 and 11 per cent in 2007.
Chinese buyers made up the next largest segment at 11 per cent, followed by Mexicans at 8 per cent.
While sales to foreigners make up only about 10 per cent of all U.S. home sales, they are among the fastest-growing segments of the market. International sales climbed 24 per cent last year, according to the survey.
People from Canada and elsewhere are being lured by rock-bottom prices, a massive supply of foreclosed properties and record-low interest rates.