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Canadians Buying in Arizona
Arizona has long attracted citizens from all over the world due to its mild climate, affordable home prices and high Quality of living. Best known for its views of the Grand Canyon, its "painted" desert landscape and colorful sunsets, Arizona is one of the Four Corner states in the U.S. southwest, bordering New Mexico, Utah, Nevada and Southern California.
Phoenix, the Capital of Arizona, recently became thefifth-largest city in the us. Historically, the main point of departure for people moving into Arizona was California, and the emigrants were either job seekers, retirees or folks cashing out of their expensive residences in places like Los Angeles, San Diego and Orange County and moving to Phoenix, Scottsdale and Mesa where homes were half the price of where they left.
As the bubble burst in the US, Arizona has gotten a new No. 1 source of home buyers: Canadians. Canadians have supplanted Californians as the biggest buyers of Arizona residential real estate. According to Jed Smith, the managing director of quantitative research for the National Association of Realtors, Canadians accounted for 11 percent of foreign buyers of U.S. homes in 2007, but over the last three years the numbers jumped -- and that's an ... more

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