Oct 14, 2014
By Bob Komsic
Zoomers looking to buy property in the U.S. will be interested to know house prices in destinations popular with snowbirds are rising.
The prices are still below peak levels of 2006 though.
An outlook by BMO Financial Group says overall, house prices stateside have increased 20% in the last two years, but are only about halfway to the levels seen eight years ago.
The average price in Florida, which remains the most popular state for Canadian buyers, is $124,000 US or about half the price of a place in this country.
Currently, more than half-a-million Canadians own real estate in the Sunshine state.
The report says it expects U.S. house prices to keep rising as the economy gets stronger.