By Mark Kennedy | Financial Post
Affordable housing, balmy winters, love of nature, modern restaurants, diverse culture and over 300 sunny days a year are just a few reasons Arizona has Canadians flocking in droves to the high desert. According to data from Statistics Canada, an estimated 92,000 Canadians live in Arizona full time, and more than 500,000 fly down during the harsh Canadian winter. So why Arizona? As a wise man once said, “You never have to shovel Sunshine!”
Canadians on a Sun Belt buying spree
Canadians are especially impressed with the value of the high desert homes. Many of the same homes that are found for $250,000 in Arizona, would go for $750,000 in Canada. Phoenix and surrounding cities that have seen real estate prices bottom out are newly popular among Canadians looking for homes and investment properties.
For the past two years, Canadians made up the largest percentage of foreigners buying homes in the U.S. Currently showing up at 24 percent, which is a huge jump from 11 percent in previous years, according to the National Association of Realtors, Arizona is a primary focus of Canadian interest.
