Canadians not buying homes in Ariz. like they used to

usa_canada_flags

usa_canada_flagsBy Marty Hope | Calgary Herald

A sagging loonie and a gradually improving Arizona resale housing market have taken a bite of Canadian snowbirds’ appetite for buying homes in the Sonoran Valley resale sector, say industry experts.

During a five-year run, ending in 2013, Canadian buyers led a charge into the valley taking advantage of a crippled housing market along with many thousands of foreclosures and a Canadian dollar that sometimes climbed above par on the foreign exchange. Actually, there was a time during that span when Canadians were the largest segment of out-of-state buyers laying down cash for Arizona real estate.

Nowadays, not so much.

“Canadians have backed away somewhat from the Sunbelt markets due to two things — the shrinking Canadian dollar and the normalization of housing markets there,” says Tom Burk, associate broker in Calgary-based Sotheby’s International Realty Canada, which has a long history of working in the U.S. resale industry.

Continued:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories
February 2015
M T W T F S S
 1
2345678
9101112131415
16171819202122
232425262728