Conversations with local realtors and developers confirms that Canadian sales are strong, with some commenting that half of their sales are now with Canadians. The Canadian economy is doing well, at least in comparison to what is happening in the United States, and the dollar is extremely strong, now worth more than the US dollar. It was only a few years ago that the exchange was 67 cents to the US dollar. At that time this curbed sales to Canadians in Vallarta, in a market that has been traditionally strong for Canadians looking for a warm winter second home. But with a strong dollar, and high oil prices (especially for those in Alberta), strong sales should continue. Canadians have been known to usually enter in the lower end of the market, but activity is reported strong across the border, even in the high-end of the market. Graph courtesy of Rob Chipman’s RE Blog.
Canadians Continue to Carry Market