The Real Deal Miami

Canadians big home buyers in Florida

October 06, 2008 05:41PM

Canadians are taking advantage of low real estate prices to snap up property in the U.S., particularly in Florida, where Canadians purchased 7,200 homes (about half of them condos) over a 12-month period ending May. A year earlier, Canadians had purchased only 3,500 homes in Florida, according to the Washington-based National Association of Realtors. Even as Canadians purchase more Florida homes, the lending market makes home purchases more difficult, and buyers with cash on hand are likely to fare better.