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Canadians buying U.S. Homes Double in 2008

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Canadians buying U.S. Homes Double in 2008

Sam DeBord, "SeattleHome.com"
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Sam DeBord, "SeattleHome.com"

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We've helped a large number of Canadian buyers in the Seattle area over the past couple of years. Many of our clients come down from Vancouver and Victoria, British Columbia, to buy Seattle area homes as second homes and investment properties. According to the National Association of REALTORS, this phenomenon has carried across the rest of the country.

NAR reports that Canadian investment in American real estate went from 11% in 2007 to 23.5% in 2008. Canada became the nation with the largest foreign investment in U.S. real estate for the year. Much of the investment has been attributed to the Canadian dollar's relative strength vs. the American dollar which has given Canadians far more U.S. purchasing power than they had in the past.