Thats approximately $4.1 Billion in Florida and $1.5 Billion in Arizona!
Why are Canadians buying US real estate?
Over 40% of Canadian buyers purchase US real estate for their own personal use as a vacation property or second home. Approximately 23% of purchases were intended as a primary residence as many are making America their resident home. 15% of buyers purchased as a pure investment for rental purposes while 16% intended to use their property part-time and rent the property part-time.
What types of properties are Canadians buying?
Canadians are looking for larger properties than they have in the past. Approximately 68% of Canadian buyers purchased single family homes, 22% purchased condominium properties, 8% purchased townhomes and 2% purchased residential land.
How are Canadians buying US real estate?
Canadian buyers are more likely to purchase in cash with approximately 78% of all sales coming from an all cash purchase. Only 14% of purchases used a US mortgage to finance the purchase. Many Canadians do not know about the great US mortgage options available to them to help them purchase US property.