During the housing crisis of the mid-2000s, homebuyers from one country swooped in and made the most of the Arizona housing market: Canada. Though Canadians are not buying at the frantic pace they were, they still have strong ties to the local housing market and continue to expand, according to the Calgary Herald. 

Canadian companies are looking to firm up the Canada-Arizona connection and their financial commitment thus far is staggering. According to the Canada-Arizona Business Council, bilateral trade investment with the U.S. exceeded $5 billion in 2016, which continues to generate home-buying in the Grand Canyon state.

Arizona governor Rob Ducey released figures showing 90 percent (23,000) of international-owned housing in Maricopa County belongs to Canadians. Half of these are located in Phoenix, Mesa, and Scottsdale, according to the Canada-Arizona Business Council. Albertans own 500 acres of non-residential land and 83 percent of the commercially owned real estate is owned by Canadians as well.

Prices are going up but that’s not stopping their interest. Toronto, Vancouver, and Alberta citizens are still finding market deals, but most are selling. With the market turning around and with many having purchased homes at “bargain-basement price” during the crisis, many stand to make hefty profits. Don’t worry though, they still continue to invest at phenomenal figures. Per the National Association of Realtors, U.S. real estate sales to Canadians between April 2016 and March 2017 amounted to $19 billion.