Canada has remained as the top source of international clients purchasing U.S. property, as reported in the National Association of REALTORS® 2013 Profile of International Home Buying Activity, which summarizes the survey responses of over 3,300 REALTORS® for the 12 months ended March 2013.
Approximately 71 percent of reported purchases by Canadian buyers were for properties in Florida, Arizona, and California. Canadian buyers preferred to locate in a suburban or resort area. Further, according to information from Realtor.com ® based on access to the website, the five markets of greatest interest to Canadians are Las Vegas, Fort Lauderdale, Orlando, Detroit, and Naples.
Other information about Canadian buyers:
- 98 percent purchased a residential property;
- 47 percent purchased in a small town/resort and 41 percent in a suburban area;
- the median price of the reported properties was $183,000;
- about 86 percent purchase on an all-cash basis.
There is a good chance of having a foreign buyer, whose expectations and needs may differ from those of U.S. buyers. The site http://www.realtor.org/global provides a substantial amount of information that may be of help to REALTORS® not experienced in dealing with international clients.
