Canadians largest foreign group buying U.S. homes
Posted July 13, 2010 12:44 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Canadians remain the largest foreign buyers of homes in the U.S., according to an industry group.
Nearly one in four homes is purchased by people from outside the country, while 23 per cent were made by Canadians according to the U.S. National Association of Realtors. This is the third year in a row that Canadians were the top foreign buyers.
Mexicans are second at 10 per cent, displacing the UK which slipped to 9 per cent. Buyers from China, including Hong Kong, accounted for 8 per cent.
Foreign buyers are snapping up recession-driven bargains in the States. The NAR says the median price paid by foreign buyers fell 11 per cent to $219,000, most of which did not involve a mortgage.
Florida, California, Arizona and Texas are the only four states that account for more than half the sales to international buyers.
