Canadians buying more and more homesin the USA

In Arizona’s Maricopa County, where Californian’s were once the biggest source of outside homebuyers, a recent report has found that Canadians have now taken their place.

According to figures tracked by John Burns Real Estate Consulting, which is based out of Irvine, California, Canadians supplanted Californians as the biggest buyers in the county from December 2009 through to June of this year. Arizona isn’t the only place seeing a large number of Canadian buyers, however, as Jed Smith, who is the managing director of quantitative research for the NAR, has also reported that Canadians have significantly increased their presence in the United States real estate market. Consider these findings:
Canadians accounted for 11% of foreign homebuyers in 2007
From April 2007 to April 2008, Canadians accounted for 24% of foreign buyers
From April 2008 to April 2009, Canadians accounted for 17% of foreign buyers

From April 2009 to April 2010, Canadians accounted for 23% of foreign buyers

As a result, the NAR is reporting that Canadians have been the top foreign buyers over the last three years, followed by Mexican, UK, Chinese, German/French, Indian and Argentinean/Brazilian investors.