Canadians love a good bargain, and this seems to be particularly true when seeking property investment. Canadian property investors, far and away are leading the charge, seeking homes in the depressed US real estate market.
Canada-based real estate technology and marketing company Point2, in their Q3 report which analysed consumer real estate traffic data for the United States on the Point2 Homes consumer portal, showed that Canadians were responsible for the most traffic to online property listings, in all ten of the top ten visited states. For some states, Canadians overwhelmingly generated the traffic. Online interest in Arizona property listings, for instance, was 90% Canadian. Properties specifically in the Pheonix area, received a whopping 98% of their online property shopping traffic from Canadian sources.
Florida was the state with the most international traffic.
Point2 said in a release, “Canadian traffic made up 91.89 percent of the overall international traffic to Arizona listings, 75.90 percent to Hawaii, 73.92 percent to Michigan, 70.55 percent to Nevada and 65.05 percent to California. Puerto Rico, also covered in the report, ranked tenth on the list, with 16.82 percent of the traffic.”
This comes as no surprise really, as several of these states represent an excellent cross-section of property opportunity for Canadians. The warmer climates (with the exception of Michigan) make for a great retirement destination. Several of these states were hard hit during the downturn, and property prices have yet to fully recover, and the strength of the Canadian dollar gives prospective buyers more purchasing power.
Behind Canada, the most international interest came from United Kingdom and Mexico.