Real Estate

Canadians bought over 19B in US real estate, are Canadians driving up prices in US?

  • Last Updated:
  • Dec 9th, 2020 9:03 pm
[OP]
Deal Addict
Dec 20, 2018
4922 posts
3977 upvotes

Canadians bought over 19B in US real estate, are Canadians driving up prices in US?

Anyone find more recent data especially with how much CAD had gone up?

I was only able to find 2017 figures for Canadian purchase of real estate in the US

https://www.canadianrealestatemagazine. ... 28568.aspx
The United States hit a record for foreign buyers, and Canadians make up a large chunk of the share.

Foreign U.S. home sales jump 49% in terms of dollar value, hitting a record of $153 billion.

According to the National Association of Realtors, nearly half of all foreign sales were in Florida, California and Texas.

“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” Lawrence Yun, NAR chief economist, said. “While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”

NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate, found that between April 2016 and March 2017, foreign buyers accounted for $153.0 billion of sales of residential properties, which is a 49 percent jump from 2016 ($102.6 billion) and surpasses 2015 ($103.9 billion) as the new record.

Overall, a total of 284,455 U.S. homes were bought by foreign buyers – representing a 32% year-over-year increase.

Canadians accounted for $19 billion sales over the past year – a record for our country
3 replies
Deal Addict
Jan 12, 2017
1294 posts
636 upvotes
Given Canadians have always had a relatively close relationship with the US, that number doesn't sound like much of a blip. Curious to see how the historical number is for Canadians, adjusted for inflation, Canadian tech workers and relative price + currency sensitivity. Also curious where in the US Canadians are buying.
StatsGuy wrote: Anyone find more recent data especially with how much CAD had gone up?

I was only able to find 2017 figures for Canadian purchase of real estate in the US

https://www.canadianrealestatemagazine. ... 28568.aspx
Deal Addict
Mar 2, 2017
1398 posts
2549 upvotes
Toronto
Good thread, to build on this, do we have anyone here that's actually gone through the process? Would like to get some insight on residential/commercial/multi family buying down there as a Canadian.
Realtor, Investor, CPA

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