Home sales continue to show strength in Florida, and Canadians are doing their fair share, according to a new analysis by the National Association of Realtors.
The strength of the Canadian dollar, lower pricing in the U.S. housing market and perceptions in the Great North that America's economy is rebounding are all driving the buying, the association said.
The NAR's Profile of International Buying Activity showed that during the 12-month period ending March 2011, Canadians accounted for 23 percent of all foreign buyers, more than any other country.
The NAR study showed 58 percent of all international sales in 2011 came in just four states: Florida at 31 percent, California at 12 percent, Texas with 9 percent and Arizona at 6 percent.
Location was the key factor for buying, with 43 percent of agents surveyed by the NAR saying that was their customers' reason for buying.
The second-highest factor was investors seeking a profitable return, at 27 percent.
Canadians specifically referred to "a perceived positive return on their investment," the NAR said. "They also showed a strong desire for a lakefront recreational location."