After learning today that 2012 sales volumes of residential properties in Greater Vancouver were 26 per cent lower than the 10-year average, one might rightly ask: “Where have the buyers gone?”
The answer, according to this report from The Financial Post, is the warm-weather states of Florida, California, Arizona, and Texas. “Maybe it’s the strength of the loonie, the increasing value of their principal residences, or the lure of still deeply discounted housing, but Canadians love the United States – especially the Sun Belt – where we remain the No. 1 foreign buyer of property.”