Summary
Fewer Canadians are searching for homes to buy in the U.S., with a noticeable decline of nearly 20% over the past year. This is impacting places like Florida, where many Canadians used to buy homes. Several reasons for this change include tariffs, political views, and rising costs in the U.S. housing market.
Key Facts
- Canadian interest in buying U.S. homes fell by about 20% from the previous year.
- Florida, a popular location for Canadian buyers, has seen a significant drop in interest.
- Canadian searches for U.S. homes hit their lowest point in April, down 34.2% compared to the previous year.
- Tariffs announced by President Trump are one factor contributing to the decline in interest.
- A Pew Research Center survey found more Canadians view the U.S. as a top threat, compared to their views on China in 2019.
- In 2024, Canadians made up 13% of foreign buyers in the U.S., purchasing $5.9 billion in real estate.
- The decrease in Canadian interest is also due to higher home insurance, association fees, and property taxes in places like Florida.
- Florida's housing market has slowed, with home sales dropping 7.3% and available homes increasing by 9.3% in July.
