In fact Canadian buyers kept its #2 spot internationally as the top investor in American property here in the U.S. according to a new report just published by the National Association of Realtors. Here are a few of the comments taken from the full report. Read more…..
Just the essentials of that report:tT
2] Canadians more than doubled their spending in the U.S. over 2017 figures. It is estimated that over $19 billion was spent on real estate in this country last year. The number 1 reason why they were able to do this….the exchange rate has stayed well below the average over the past several years.
3] How are they paying for this real estate? CASH is the golden word. However several major lenders are starting to fund mortgages for Canadians than ever before. Some 20% of Canadians used mortgage funds to make a purchase in the U.S. last year. That still leaves the majority paying cash for their purchases.
As a long time Realtor, this certainly is a market I understand. With no language barriers, and the availability of Canadians to pay cash, sellers here in SW Florida are anxious to see more Canadians shop for primary residences, as well as 2nd homes. Another fact of world real estate, is that Florida ranks 6th in this country for metro area purchases and desirable places to live and enjoy our lifestyle.