Canadian interest in U.S. real estate has dropped significantly in 2025, with online searches on Redfin.com down 19.5% year-over-year in August, according to a new report from the real estate brokerage.
The downturn began in February, following the White House’s decision to impose 25% tariffs on Canadian imports.
The steepest drop came in April, when Canadian searches plunged 34.2% compared to the previous year, aligning with the Trump administration’s announcement of a broader global tariff policy. Although the decline has slowed somewhat, Redfin says the trend remains “notable.”
Political Tensions, Weaker Currency Drive Decline
Redfin attributes the drop to several factors. Canadian public opinion toward the U.S.—and President Trump in particular—is near historic lows, worsened by controversial comments suggesting Canada should become America’s “51st state.”
The Canadian dollar’s depreciation since late 2024 has further discouraged buyers, making U.S. homes less affordable.
“One Canadian client is selling his last U.S. property—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 once owned four homes in the area but wants no more ties to the U.S.”
Snowbird Hotspots Hit Hardest
Canadian search activity has declined in 46 of the 50 largest U.S. metro areas. Florida—long a favorite of Canadian snowbirds—has seen some of the most pronounced drops. West Palm Beach led with a 26.6% year-over-year fall in August, followed by Tampa and Orlando (both down more than 23%).
Other major declines occurred in Anaheim, CA (-26%), Columbus, OH (-25.6%), Detroit (-25.5%), and Los Angeles (-25.5%). Florida’s slump is especially notable given its long-standing appeal to foreign buyers. Experts cite rising property taxes, HOA fees, insurance costs, and climate-related risks as contributing factors.
Few Bright Spots Remain
Only four major U.S. metros saw an increase in Canadian interest: Kansas City, MO (+13.6%), Nashville, TN (+8.5%), Jacksonville, FL (+3.3%), and Fort Worth, TX (+1.5%).
Despite the current pullback, Canadians remain a major force in the U.S. real estate market, accounting for 13% of international home purchases in 2024 and spending $5.9 billion.
Still, with political tensions and economic uncertainty lingering, analysts say a rebound in Canadian demand may not happen anytime soon.
Source: MPA Magazine
