The demand among Canadians looking to buy a vacation home in the United States has picked up once again — since the border reopened for land travel.
According to a recent National Association of Realtors report, Canadians are the most likely foreign buyers for a U.S. residential property, particularly a vacation home.
The demand has increased over the last few months.
The report states 42 per cent of new houses were sold to foreign buyers, with Canadians making up 84 per cent of those foreign buyers.
RBC Director of Business U.S.A. and business development Forget Alain says interest has been building since the start of 2021.
“For example, in September, we [saw] a year over year increase of 65 per cent [in requests] for U.S. financing and … approvals,” Alain said.
Alain said the most common states for real estate purchases by Canadians is Florida and Arizona with some in California.
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