Coldwell Banker Uncovers Why International Buyers Dream of Owning U.S. Real Estate
From diverse American cities and regions to being inspired by Hollywood, wealthy international consumers are dreaming of home in the United States. According to a recent survey by Coldwell Banker Real Estate LLC and the Coldwell Banker Global Luxury® program, affluent international buyers are dreaming big, spurred by location/lifestyle preferences, an overall positive outlook on the U.S. luxury real estate market and more. In fact, a significant number of respondents say they are optimistic about the state of the U.S. real estate market; 80% of luxury consumers believe purchasing real estate in the United States is a safe investment and 76% rate the current market conditions to purchase a home as "excellent and/or good." The survey conducted in partnership with Censuswide highlights the consumer sentiments of over 1,200 high-net-worth consumers from 12 countries. The findings serve to unpack the dreams, desires and attitudes of international luxury home buyers, offering insight into what's driving their interest in U.S. real estate, where they're dreaming of moving to and the factors impacting those relocation purchases. International investors are willing to bet on U.S. real estate Traditionally seen as a hedge against inflation, real estate may provide financial, emotional and psychological stability, especially in the face of uncertain market conditions. International wealthy consumers seek to diversify their real estate portfolios, build generational wealth and make opportunistic buys in luxury markets. In fact, 84% say they already own residential real estate outside of their home country. The survey also reveals that virtually all (97%) respondents from Mexico consider purchasing real estate in the United States as a safe investment, ranking them the most likely country surveyed to do so. Participants from Spain and the United Arab Emirates did not fall far behind with 92% saying that U.S. real estate is a safe investment. Desires, dreams and motivations for purchasing in the U.S. Consumer motives and preferences are not universal when it comes to international buyers looking for their dream home in the U.S. The survey indicates that some of the leading motivations to purchase property in America are as follows: Frequent work/business trips to United States cities Three-way tie: A movie or television series based in the United States A recent vacation to a United States city Investment opportunity Social media Dual citizenship / golden passport The below amenities are rated as the top five most important for international respondents based on their desires when selecting a dream home purchase abroad: Latest smart home technology Eco-friendly and sustainable design features State-of-the-art security system Home with breathtaking views Privacy International consumers are dreaming of new destinations It's evident that the United States has captured the hearts of international home buyers for various reasons with the nation's cities offering diversity in experience and atmosphere from coast to coast. Respondents identified the following as their top choices for their dream location of their next home purchase: Cultural diversity and prominent architecture like Chicago Ranked highest by Argentina with over a quarter (27%) of respondents, followed by Costa Rica (20%) In the hustle and bustle of a major city like New York Ranked highest by Spain with nearly a quarter (24%) of respondents, followed by Mexico (20%) Warm weather with sprawling homes among the glamorous elite like Los Angeles Ranked highest by Portugal with 21% of respondents, followed by Turkey (16%) A waterfront property with breathtaking views like Miami Ranked highest by Costa Rica with just under one-fifth (19%) of respondents A luxurious resort town in the mountains like Aspen Ranked highest by France, with one-fifth (22%) of respondents "The appetite for owning U.S. real estate from overseas buyers has never been stronger, according to our survey. From investment opportunities to even being inspired by the entertainment industry and social media, buyers are confident in putting their money towards their dream of making the United States their home away from home. From coast to coast, there are plenty of reasons why wealthy buyers aspire to American living," said Michael Altneu, Vice President, Coldwell Banker Global Luxury® program. Luxury property specialists are seen as a trusted resource to a community and all that it offers. The survey results reveal that 88% of respondents are highly likely to lean on the support of an agent when navigating the process of purchasing a home abroad. In addition, younger millionaires aged 25-34 are the most likely age group to use an agent for an international home purchase (97%). As the connection point to their communities, the white glove service and world-class expertise of a top agent provides immeasurable value. Beyond sharing market knowledge, agents serve as resource to sharing insights on other factors luxury buyers consider when purchasing a property, like connections to desired schools, introductions to social groups and much more.

Coldwell Banker Releases 'The International Buyer's Guide to Purchasing U.S. Property'
Coldwell Banker Real Estate recently released "The International Buyer's Guide to Purchasing U.S. Property," an in-depth collection of guidelines and best practices to demystify the buying process for international clients seeking to purchase property in the United States. The International Buyer's Guide also serves as a helpful resource to help Coldwell Banker affiliated agents better serve clients, and as a marketing resource for agents to build referral business globally. Key features in The International Buyer's Guide include: The Current Real Estate Landscape With travel bans eased, international interest in the United States real estate market is expected to increase due to pent-up demand. In 2022, international buyers spent more money, but purchased fewer properties than in previous years. According to the National Association of REALTORS®, while transactions further decreased, the dollar volume of foreign buyer purchases rose 8.5% to $59 billion between April 2021 and March 2022. Big Spenders: International buyers accounted for $59 billion in dollar volume for residential properties purchased. Cash Offers: 44% of international buyers paid all-cash for a U.S. property, compared to 24% among all existing home buyers. Real Estate Investment: 44% of international buyers purchased property for use as a vacation home, rental or both in the United States. Dream Locations The five U.S. states that attract the greatest number of international home buyers are Florida, California, Texas, Arizona and New York. While cities like New York and Los Angeles have traditionally attracted the most international dollars, secondary cities are on the rise, presenting as "hidden gem" opportunities. The Coldwell Banker Global Luxury program issued "The Report 2022," which includes "The Opportunity Index" that measures a market's percentage of annual price increase against the current inventory level. "We're ecstatic to welcome back international investment into the U.S. real estate market," said Liz Gehringer, President of Affiliate Business and Chief Operating Officer of Coldwell Banker Real Estate. "Gone are the days where the agent is just part of a transaction – today, they're a lifelong partner, helping consumers craft their dream life. The 'International Buyer's Guide to Purchasing U.S. Property' offers prospective buyers a full-scale look at best practices, tips and recommendations when thinking about their next purchase."

ERA Real Estate Report Examines Impact of COVID-19 Around the World
ERA Real Estate today released a first-of-its-kind report, "The COVID-19 Pandemic's Impact on Real Estate Around the World: An In-Depth Analysis." The impact of the COVID-19 pandemic on the real estate industry has been well documented in the United States. Demand outpaced supply with record-low mortgage rates drawing so many buyers in while others took advantage of remote work to vacate urban centers for more affordable locations. With a presence in 32 countries and territories with more than 2,200 offices around the world, ERA is uniquely positioned as the first real estate franchise to provide insight into global real estate trends. To learn how COVID-19's impact was felt in the housing market in countries around the world, ERA surveyed and conducted in-depth interviews with several ERA international leaders from around the world, including ERA South Africa, ERA Japan and ERA Middle East. The results of the report found that many nations are experiencing real estate trends similar to the U.S.: Low inventory and increasing prices are prevalent around the world. Flight to the suburbs made sense in many countries – but not all. The second home market was invigorated by the pandemic. The desire to own a home is stronger than ever. However, some countries reported different trends, such as: Mortgage interest rates hovering at or below 1%. Some nations have limited suburban and rural living options, making larger and amenity-filled apartments more desired and valuable. Safety can have different meanings depending on a country's political and economic climate. "Few things transcend cultures and countries like the sentiment 'there's no place like home,'" said Sherry Chris, President and CEO of ERA® Real Estate. "As COVID-19 spread worldwide, the entire global community became more intimately acquainted with their homes as we stayed home to slow the spread of the virus by reducing contact with others. This experience motivated many to rethink their housing situation, which in turn had an impact on housing markets around the world. Through ERA Real Estate's expansive global network of real estate professionals, we were able to gather insights to help us better understand how different countries fared over the last year and half. What we learned is that while many industries languished during the pandemic, real estate remained 'open for business,' underscoring that housing is an essential service no matter where you live." "Overall, the housing industry in Europe is sustainable," said Francois Gagnon, Master Franchisor, ERA Europe. "The COVID-19 pandemic has certainly heightened the housing shortage greatly because of the pause in construction, however the only thing that would lead to a slowdown would be a rise in interest rates. For agents, their success was dependent on their mindset about change. Agents who stayed connected to their brokers via Zoom had a very successful year." "People in Singapore are still confident to come into the housing market," said Jack Chua, Master Franchisor, ERA Singapore. "We sold more units in 2000 than in 2019. In the first half of 2021, we have sold more units than this time last year – more than double. The market is still hot, and we think the momentum will carry forward. Mortgage rates are still low, and people still consider real estate a good investment." "In South Africa, we are seeing a lot of movement away from city centers to smaller towns and coastal areas as a result of being able to work from home. We also saw a significant semi-migration of people to the southern region of the Western Cape province," said Berna Daly, CEO, ERA South Africa. "A large influx of first-time buyers came onto the market as well, thanks to extremely low interest rates, which finally made buying smarter financially than renting." To learn more about ERA Real Estate's global presence, visit era.com/global-hq.

A Snapshot of COVID-19's Impact on International Real Estate, Plus 4 Tips to Persevere
PropTech Solutions' Real Estate Platform is used by real estate companies in over 60 countries, speaking more than 40 languages. The global scale of our client base gives us unique insight into the impact COVID-19 is having on international real estate. We connect with clients around the world daily and, as you can imagine, these days we have more discussions about the coronavirus than our technology. Our clients are like family to us and we don't just care about their businesses, we care about them as people. We're confident we will all get through this pandemic and emerge stronger — together. In the meantime, we all need to work together to do the best we can in this difficult situation. Here are a few ideas to help you with these very real challenges, as well as the impact we see on international real estate through our own data. Here are four ways you can help your clients cope: Send positive messages often. Our lead-to-close technology offers the ability to assemble comprehensive marketing communications. While you normally would use these to present homes or promote yourself to new clients, you can also use them to communicate with your clients and prospects on a different level. People in the buying or selling process today are going to be very concerned about what all this means long term. Help them understand life will go on and properties will continue to be bought and sold. Put together a list of simple things that your clients can do to improve their homes. We all have to maintain social distancing, which means we have more time at home than normal. Cleaning, uncluttering, painting and trying different furniture arrangements are just a few examples of activities that require little or no money and don't need the help of professionals. Assemble a list of available local professionals. Typical home repair services will be more difficult to arrange, or perhaps impossible in some cases. Collect trusted local service providers, such as plumbers, landscapers, and electricians, that are still available and share that information with your network. Turn your marketing technology into a community bulletin board. Real estate agents know hundreds, sometimes thousands of people. Connect people in your network and communicate local information in ways that no one else can. Not only will you help people in this very real time of need, but you will also develop relationships that will last long after the crisis. Visit local Facebook community pages, highlight businesses giving back and celebrate the dedicated professionals working every day to save lives. The 90-day snapshot of international real estate As mentioned, we have customers in over 60 countries, which gives us unique insight into the impact COVID-19 has on the international real estate market. We've shared just a few key findings below. Please visit proptech-solutions.com/covid for the complete report. In the last 90 days, our public-facing real estate websites outside of Canada and the U.S. experienced a drop in visitors by an average of 20%. Some geographic regions see a far greater impact than others. Given the volatile situation, this wasn't a surprise. The websites continue to generate property leads, but lead volume has decreased by an average of 48% since the start of this year and by 40% compared to the same time last year. Additionally, the total inventory of active listings across all our customers has increased by approximately 15% as new listings are still being added — albeit at a reduced rate — and existing listings stay on the market longer due to a reduction in overall sold and rental listings since consumers lack confidence in the market. As countries enact measures to restart their economic engines, record low-interest rates will make the prospect of buying properties more attractive. If we also account for the pent up demand this period of suppressed market activity will create, it's very likely we will see a period of increased real estate activity once social distancing measures are relaxed. The work agents do now to optimize and organize their contact databases, reach out to the contacts they haven't spoken to in a while, and make new virtual connections online, will pay dividends down the line. If you're planning to expand or enter the international market once this crisis is behind us, we'd love to talk. Please contact us at [email protected]. For additional statistics, tips and information, please visit proptech-solutions.com/covid. PropTech Solutions is the holding company of leading global real estate technology companies, GryphTech and Phoenix Software. Together, they provide a lead-to-close real estate management platform that is relied upon by real estate businesses in over 60 countries to accelerate their growth. The technology is cloud-based, multilingual, multicurrency and purpose-built to generate new opportunities, meeting the needs of the world's largest real estate brands. PropTech Solutions' CEO, Carlos Matias, was recognized as a 2020 RISMedia Newsmaker and in 2019, the company was named a Top 10 PropTech Solution Provider by CIO Applications Europe. For more information or a live demonstration of The Real Estate Platform (REP), visit www.proptech-solutions.com or email [email protected]

Pacific Union Delivers on International Reach
WAV Group has been studying broker website effectiveness for more than a decade. One area of interest is global reach. When we look at Google Analytics, we study traffic to understand the level of visibility that brokers are achieving for their websites internationally. Over the past 12 months, Pacific Union International has been living up to their name by expanding their international reach. Driving International Reach International reach has largely been a listing tool in real estate. Even in global cities like San Francisco, Los Angeles, Chicago or New York, we see that 85 percent of buyers come from the immediate region. Ten percent come from other areas within the United States. Only 5 percent come from international buyers. Despite the real data, sellers continue to believe the media that buyers come from China and Russia. For many brokerages, the seller’s demand for international reach is colored in though franchise or network relationships. There is good news for brokerages that are not affiliated with franchises or networks. Over the past year, Pacific Union International has been focused on reaching high net-worth individuals, increasing their reach in the U.K. by 360 percent, and over 500 percent in China. Their targeting has resulted in 900 percent increased traffic in India and a staggering 2190 percent increase in Brazil. It is a six-figure investment, but far more effective than the delivery of international buyers from networks or franchises. Pacific Union’s traffic, leads, and transactions have grown enormously with this proactive approach.

The Top 3 Things Brokers Can Do to Rock 2017
I don't know about you, but I always get energized this time of year. The holidays are behind me, my year-end planning is done, and it's time to hit the ground running in 2017. If you're like me, you've probably identified some things you can start doing TODAY that will help you achieve your 2017 goals. I've identified three things I believe can have a huge impact for your real estate business in the new year. GO GLOBAL! You have heard me say this before, but real estate has become a global business. Global is the new local. Consider that over $100 billion was spent on real estate in the U.S. by foreign buyers, according to the NAR 2016 Profile of International Activity in U.S. Residential Real Estate survey. Furthermore, Americans are retiring abroad in record numbers. There is similar real estate migration happening all over the world, and multicultural buyers are prevalent just about everywhere in our country. All this points to the need to have a strategy and sales platform that allows you to connect to global agents and their buyers. If you are able to plug into the global network of agents, you will have a distinct advantage over your competitors that have not embraced the concept of a global, connected, real estate industry.

5 Motivators for International Investment in U.S. Real Estate
Last year, NAR's Profile of International Home Buying Activity reported that China, Canada, Mexico, India, and the United Kingdom accounted for 51 percent of international real estate transactions in the U.S. While we may think that most international buyers are interested in luxury estates, NAR's research shows this isn't necessarily true. The report shows that global buyers are actually more modest with their purchases, with approximately 46% of purchases on property priced under $250,000. 5 trends you can expect from international buyers this year: 1. A number of foreign buyers are motivated to purchase properties in the United States to pursue educational opportunities. There were nearly one million international students studying in the United States in the 2014-15 school year, with a third of those students from China, followed by India, South Korea, Saudi Arabia, and Canada. 2. According to the New York Times, the top motivators for Chinese buyers are: Capitalizing on the surging rents in parts of the U.S. for investment properties Moving investments beyond the reach of the Chinese government Maximizing opportunities for the family

3 Great Ways to Build a Referral Network Without Borders
If you're looking to grow your business this year, it's time to look at one of the hottest trends in real estate – globalization. Often times, brokers, builders and developers don't really know how to start working the international front, even though it really does start in your own backyard. That's because America really is a melting pot. And you have a ton of multicultural agents, buyers and sellers in your own marketplace. So, how do you get started, or if you've done some things, how do you take it to the next level? First, get to know your local college admissions and housing departments. More universities are looking to recruit foreign students because they pay higher tuition and higher learning has suffered from budget cuts. Upwards of 35 percent of foreign students will purchase a condo or home, far more than their stateside counterparts. Even if you're in the heartland of America, you'd be surprised at the increasing number of international students that are now attending, way up from 10 or 20 years ago. And if you're in need of personal translation in person or in writing the language, these students can be an effective and affordable resource.

Global Real Estate – Are You Ready?
I live in Miami, a very international city. Our real estate is being bought by South Americans, Europeans and, coming soon, the Chinese. It's exciting to watch what is happening here and how many brokerages and developers investigating better ways to reach these international buyers. The same can be said for many other markets around the U.S. There are obvious ones such as Miami, New York, Los Angeles, Houston, Los Angeles, San Francisco, and Seattle. However, if you think global real estate is limited to these gateway cities, you are mistaken. Some examples of global real estate trends in other national markets: With the concentration of higher learning institutions and technology companies in the Boston area there are more and more Indians, Chinese, and other foreign nationals buying real estate; Come to Broward County, Florida (north of Miami) this time of year and you will notice a preponderance of Canadian license plates because so many have bought winter homes there; Greenville, SC was a sleepy little Southern town until BMW came to town about 20 years ago. Walk around downtown today and you will hear lots of German being spoken as many executives of BMW, and their supplier companies, have relocated; and, Las Vegas is a magnet for foreigners who love the gambling and shows. You know what else they love, buying property there!

5 Things to Consider About Foreign Real Estate Buyers
Recently, USA Today reported on the influx of foreign real estate buyers in Miami. Since I live in Miami, I'm seeing this first hand. But it's the same story in New York, Los Angeles, Houston, San Francisco, Vancouver, Toronto and, to a lesser degree, in other cities in the US and Canada. Foreigners are investing in US and Canadian real estate in droves. There are plenty of reasons for this but the big question is, what are brokerages doing to capture this business? If you are not actively pursuing the foreign real estate buyer, or at least making it easier for them to do business with you, you are missing huge opportunities. 5 things to consider about foreign real estate buyers Do you have foreign agents? If you don't, what can you do to attract them to your company? Do you translate your marketing materials (including your website) to multiple languages, depending on where buyers are coming from in our market?

A connected globe means global opportunities for you
Focus on a multicultural reach in your local market As a Cuban-American living in Miami, I'm quite sensitive to the international nature of real estate. Brazilians, Columbians, Venezuelans, Russians, and many other foreign nationals fuel a very robust real estate market in Miami. And the same can be said about other gateway cities such as Los Angeles, San Francisco, New York, Houston, and many more. If you're a real estate brokerage located in a gateway market, you're missing opportunities if your business lacks multilingual agents, multilingual staff, or a multilingual website. Without a multicultural focus, making outreach efforts overseas or being part of one or more international networks is impossible. Most brokerages in these busy international markets understand the need for a multicultural business model in order to effectively compete. It's pretty much a requirement for success these days. More and more, I'm seeing smarter brokerages in less international markets making efforts towards a multicultural model that are paying off. For example, I spoke to a development services company in coastal North Carolina recently. They told me how many of their buyers come from Canada and through their marketing outreach in markets like Toronto, Quebec, have encouraged Canadian buyers stop in their local developments instead of others.

Avoid an International Crisis – Tips for Working With Chinese Buyers
In 2013, Chinese buyers accounted for nearly 20% of international sales in the U.S. and, on average, spent more than other international buyers. In fact, the Chinese are the fastest-growing group of property buyers and investors in the US. Their international property purchases are projected to reach $114 billion by 2015, almost twice the sales figures reported for all of the combined international buyers in 2012. The Chinese are interested in real estate as both investment opportunities as well as second homes outside of China. Proper business etiquette is essential when working with Chinese clients – not "minding your manners" can be a costly mistake. Below are some tips to help you avoid any international faux pas with Chinese clients. 1. Be on time. Better yet, be early! While our culture is often more forgiving of occasional tardiness, this is not true of many other cultures, including the Chinese. Being late is considered an insult and is certainly not the first impression you want to make. 2. Don't be overly aggressive with your handshake. In our culture, a firm handshake generally has positive connotations, conveying confidence. However, the Chinese prefer a more gentle and, in some cases, prolonged handshake. A prolonged handshake is a good sign, so don't be shy about maintaining this physical contact. In your first meeting, it is often appropriate to bow (slightly, and from the head, not the waist) when greeting someone. If you are unsure, politely follow your client's lead.

Attracting the International Buyer
Did you know that there was nearly $68 billion in real estate purchased by international buyers last year? Nearly half of these customers are from four countries--Canada, China, Mexico and India--according to the NAR's 2013 Profile of International Buying Activity. Over half are purchasing homes that are $250,000 or less. REALTOR® specialization on the buyer's side of the market--like cultural affinity or orientation with the prospective purchaser, foreign language capabilities, and experience in explaining U.S. real estate procedures and requirements to foreigners--appears to be important in bringing an international transaction to a successful conclusion. Approximately 27 percent of REALTOR® respondents reported having worked with international clients; 76 percent have been in the business for more than five years. Of the REALTORS® who reported transactions with foreigners, 54 percent reported that clients were referred to them through friends, previous clients, and international and domestic referrals. So what are the best ways for an agent or broker to increase their international business?

Product Review: ListHub Global
This product review is a bit out of the ordinary for us. There was no hour plus demo to sit through, no interface screenshots to take, and no set-up processes to explain. Brokers will be happy to learn that this is because ListHub Global is an extremely low maintenance solution that, once activated, acts like any other affiliate ListHub publisher. It's accessible through the same interface, and is automatically included in your ListHub reports. The only difference is that instead of syndicating listings domestically, ListHub Global distributes your listings to potential buyers in over 40 countries. While that sounds simple, ListHub Global is actually a sophisticated solution to a complex data problem. The Challenges of Global Listing Distribution At the heart of this problem is the organization--or lack thereof--of international listing data. Listing accuracy is a contentious issue here in the United States, but that's only because it's so important to us. We have agreements governing the use of listing data and have built MLS connected platforms to help ensure the integrity of that data. Internationally, however, the situation is quite different. In fact, a ListHub study of international data found that a whopping 75 percent of listings were inaccurate--some with "last sold" dates as far back as 2007, 2005, and even 1992! This is because in other countries, listing data is considered "open." Listings don't have the same protections as they do in the United States, and no one party bears the right or responsibility to ensure the accuracy of those listings. As you can imagine, US brokers looking to distribute their listings overseas face a daunting problem when it comes to preserving the integrity of their listing data.

The Challenges (and Opportunities!) of International Advertising
Imagine this, you find your listing displayed on a popular website in France--the only problem is that the listing sold five years ago! You are outraged, so you decide to call the website, a French publisher (a six-hour time zone difference away) trying to make a case that the website must remove the listing because it is no longer on the market. Now, imagine this conversation taking place in French... Operator: "Parlez-vous français?" You: "No...English please." Operator: "Je ne parle pas anglais." You: "...huh?" Well, you get the picture. It sounds daunting, to say the least! Marketing to international buyers comes with certain challenges. In other countries listings are considered "open listings" and nobody has the exclusive right – or responsibility – to market a property accurately and effectively. Currently, companies who syndicate listings to international publishers today are doing so without the level of protections we have become accustomed to here in the United States. Accuracy is a pervasive problem in international advertising, one that we explored in detail with our 2013 study on international advertising. We conducted research in which we evaluated listing data accuracy on two major publishers in the UK that display U.S. listings.

The New Frontier of Internet Marketing
Introduction There isn't a real estate agent or a home seller who hasn't dreamed – starry eyed – of the international buyer, waltzing in to pay for their property listing in cold hard international cash. International buyers are traditionally pictured as wealthy home buyers in the market for luxury homes – and some of them are – but the opportunity goes well beyond luxury. This paper takes a look at some of the facts around international trends in real estate and the current options for marketing properties online to international buyers. Our findings point to an opportunity that is already making a big impact in our business, one that is clearly growing, but difficult to measure and containing significant problems related to data management. The Opportunity The most recent Profile of International Home Buying report published by the National Association of REALTORS® in June 2013 showed International home sales in the U.S. reached their second highest level in recent years. The total market is estimated at $68.2 billion, comprising nearly 6% of the total real estate market in the United States. THE TOTAL INTERNATIONAL MARKET IS ESTIMATED AT $68.2 BILLION

2012 Forecast—Investment Properties Gain Popularity
Professionals Realty Group USA (ProsUSA) President Glenn Melton reports that the recent Chinese government's liberalization of restrictions on investing capital outside of the country, will have a positive trickling down affect on real estate brokers and agents' business in the United States. "The relaxing of Chinese foreign investment policies will create an influx of Chinese investment capital overseas," states Melton. "This will spur investments in the Asia Pacific regions, as well as the United States; especially given the concern that central government intervention to contain overheated domestic housing prices will lead Chinese investors to seek other opportunities abroad."

Video: International Buyers
The United States real estate market has become enticing to foreign buyers. What does this mean for our economy and consumers? MRISTV.com discusses this hot topic.

Looking for New Prospects? Target Canadians
Lower prices and the strong Canadian dollar are encouraging one in five Canadians to buy U.S. property today, according to a new survey of by the Bank of Montreal. Overall housing prices in the United States have fallen by 30 percent over the past four years. However, prices in regions that are traditionally destinations for Canadian snowbirds have dropped even more. For example, prices in Tampa have dropped 44 percent, Phoenix fell 54 percent, Las Vegas 57 percent, and Miami 49 percent.