Thank the Canadians for Helping Boost U.S. Homebuying by Foreigners
Canadian homebuyers have complained for years about foreign investment driving up prices, but their own purchases south of the border helped push U.S. home acquisitions by international buyers to a record. Foreigners and recent immigrants bought $153 billion of U.S. residential real estate in the 12 months through March, a 49 percent jump from a year earlier, according to a survey by the National Association of Realtors. International buyers now account for about 10 percent of all U.S. home purchases by dollar volume, led by China, Canada, the U.K., Mexico and India. Canadians more than doubled their acquisitions from a year earlier to $19 billion.