Amid trade tensions and economic uncertainty, Canadians are continuing to desert the US real estate market
Canadian interest in US real estate has dropped sharply this year, with searches on Redfin.com down 19.5% in August compared with a year earlier, according to a new report from the real estate brokerage. The decline began in February after the White House imposed 25% tariffs on Canadian imports.
The sharpest fall occurred in April, when Canadian searches plunged 34.2% year over year, coinciding with the Trump administration’s announcement of a global tariff policy. While the drop has eased in recent months, Redfin said the declines remain “notable.”
Political and currency pressures
Redfin’s analysis pointed to multiple factors discouraging Canadians from looking south. Surveys show Canadian opinion of the US and its president are near historic lows, with president Donald Trump at times suggesting Canada should become the “51st state.”
A weaker Canadian dollar has also made American homes less affordable. The currency began losing ground against the US dollar in late 2024, largely due to uncertainty surrounding trade policies.
“One Canadian client is in the process of selling his last US property because he no longer sees it as a good place to invest or vacation,” said Cheryl Van Elsis, a Redfin Premier agent in Las Vegas. “He used to own four homes in the Las Vegas area … but now, he no longer wants ties to the US.”
Snowbird destinations see largest declines
Search declines are widespread, with Canadian activity falling in 46 of the 50 largest US metropolitan areas. Florida metros, long popular with Canadian snowbirds, are among the hardest hit.
West Palm Beach saw the sharpest year-over-year decline in August at 26.6%. Tampa and Orlando also fell by more than 23%. Other steep drops were recorded in Anaheim, Calif. (-26%), Columbus, Ohio (-25.6%), Detroit (-25.5%), and Los Angeles (-25.5%).
Florida’s downturn is particularly striking given its history as the top destination for foreign buyers. But demand has slowed broadly across the Sunshine State amid surging property taxes, escalating homeowners’ association fees, higher insurance premiums, and increasing exposure to natural disasters.
Few exceptions to the trend
Only four major metros recorded gains in Canadian searches: Kansas City, Mo. (+13.6%), Nashville, Tenn. (+8.5%), Jacksonville, Fla. (+3.3%), and Fort Worth, Texas (+1.5%).
Nationally, Canadians have been among the most significant foreign buyers of US real estate. In 2024, they made up 13% of international purchasers, buying $5.9 billion worth of homes.
With economic pressures and political frictions continuing, analysts suggest Canadian interest in US homes may not return to earlier levels soon.
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