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Snowbirds flock to Florida land Add to ...

In the U.S., the National Association of Realtors tracks and assesses foreign home buyers. Here’s a sample of the data from Florida, where sales to international home buyers account for $10.7-billion of the $58-billion total residential sales in the 12 months ending June 2012.

Nearly all Canadian buyers paid in cash (90 per cent), while 8 per cent took U.S. mortgage financing and 2 per cent had mortgage financing from Canada.

The median price paid by international buyers was $194,700, compared to an overall Florida mean price of $125,100 and a U.S. median price of $167,758.

Two-thirds of Canadian buyers paid less than $200,000. Canadians tended to buy on the lower price range, while European and Latin American buyers bought at a higher price range.

Source: National Association of Realtors

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