Team Donovan Blog

Canadians were the largest group of foreign homebuyers in the United States in 2009, according to the National Association of Realtors – and Florida Home Finders says they accounted for 30 percent of purchases by foreigners in the Sunshine State. Canadians find U.S. properties less expensive, and they’re rushing to take advantage of a favorable exchange rate and warmer climate. “You have this rare perfect storm in the United States where you have low interest rates, still falling prices and a Canadian dollar that keeps going up,”  a local Realtor commented. Toronto resident Stacey Lynn recently purchased two condominiums in Florida: a one-bedroom in Naples for $54,900, or the cost of a parking space at an upscale condo in downtown Toronto, and another in Florida for $86,000 that would have been worth over $200,000 at the height of the housing boom.

Experts predict that a flood of Canadians would enter the U.S. real estate market during their March break. Posted by Team Donovan on March 19th, 2010