Canadian Real Estate Investors in U.S. May Have Peaked--Rising U.S. Home Prices Temper Bargain Hunting
By Sam DeBord, Seattle Real Estate Broker
(SeattleHome.com -Coldwell Banker Danforth)
Canadian real estate investors have long been one of the largest groups purchasing homes in the U.S. During the recent economic downturn, Canadians found themselves in a unique position as their currency value inflated and U.S. home prices deflated. Canadian buyers increased their influence on the Seattle real estate market and markets across the country. Realtor Magazine reported on this effect as Canadians buying real estate here had become such a large influence--up to 24% of the entire foreign buying market. Canadians were investing in American homes this past year at twice the rate they were buying near the peak of the market. It seems that as American housing markets start to recover and the bargain-basement prices cease to exist, the Canadian fervor for U.S. dirt has also star...