Blog by Kevin Wong

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Charting U.S. Real Estate Desires Of Canadian Buyers

Homebuyers from Ontario -- Canada's wealthiest and most populous province -- were among the most active in 10 U.S. real estate markets identified as international hot spots in an Inman News report released this month.

In that report, "10 Hot Spots for Global Homebuyers," Inman News explores the 10 most popular areas in the U.S. for foreign homebuyers, based on public records of foreign buyers who cite a non-U.S. address. Six of the 10 market areas are in Florida, while the remaining four are in Arizona, New York, Hawaii and Nevada.

The 10 markets, ranked by highest share of foreign buyers who used a non-U.S. home address, according to public records data complied by DataQuick, are:

1. Lakeland-Winter Haven, Fla.
2. Cape Coral-Fort Myers, Fla.
3. Orlando-Kissimmee-Sanford, Fla.
4. North Point-Bradenton-Sarasota, Fla.
5. Miami-Fort Lauderdale-Pompano Beach, Fla.
6. Phoenix-Mesa-Glendale, Ariz.
7. New York County, N.Y. (Manhattan)
8. Honolulu, Hawaii.
9. Tampa-St. Petersburg-Clearwater, Fla.
10. Las Vegas-Paradise, Nev.

In nine out of the 10 areas, except for Manhattan, Canada was one of the top three countries of origin for buyers who listed a foreign mailing address on a home sold between May 2011 and January 2012, according to DataQuick. All nine are in relatively sunny locales.

In eight out of 10 areas, Canada was the leading home country during that time, accounting for between 41.7 percent of foreign buyers in Lakeland-Winter Haven and 90.2 percent in Phoenix-Mesa-Glendale.

For the full report click here




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