Snowbirds finding great real estate bargains in Florida, Arizona

The snowbird migration began early this year, with the bad weather in the northeastern United States sending flocks southwards weeks before the usual late November season. For Canadian snowbirds, Florida remains a popular destination, and they are snapping up properties there, taking advantage of depressed real estate prices to find great bargains. A survey of foreign buyers produced by the National Association of Realtors on behalf of the Florida Realtors association found that one-quarter of Florida homes were bought by foreigners, mostly Canadians. Canadians accounted for ten per cent of all real estate sales in the state for the twelve-month period from mid-2010 to mid-2011. The median price of homes purchased was about $150,000. More than 90 per cent of the sales were cash transactions.

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