The results of the National Association of Realtors survey made Canada the largest foreign investor of any other country. Mexican investments came in at a distant second with ten per cent and China, the United Kingdom and Germany, all purchased about eight percent of the US housing market.
In the same year, the average selling price for a single-family home in the US was $219,400, down from $247,100 in 2009. It is this combination of falling home prices as well as our strong Canadian dollar that has created the incentive for international buyers.
53% of Foreign Investing in Real Estate in the US Occurred in the Sun Belt
Foreign investors are picky about where they are buying their properties. Of the foreign real estate purchases in 2010, a total of 53 per cent occurred in the 'sun belt' locations of California, Texas, Arizona and Florida. This may be because many Canadians who purchase homes are doing so with the idea of using these properties as rental income.
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