Fewer Canadians are searching for houses in the United States, thanks in large part to the tariffs put on their country by the Tramp Administration and the resulting worsening relations between the two countries.
According to Redfin, 26% fewer Canadians searched for homes to rent or buy on its site in May than at the beginning of the year. The total number of prospective buyers and renters searching on Redfin.com declined, too, but only by a fraction of that amount.
Canadians searching for homes in U.S. destinations started declining significantly in February, when the White House implemented 25% tariffs on imports from Canada and Mexico. The drop was especially steep in April, the month the Trump Administration announced its vast global tariff policy, falling 34% year over year.
Historically, our neighbors to the North have made up the largest portion of international homebuyers in the United States. In 2024, for instance, they made up 13% of foreign buyers, snapping up $5.9 billion worth of U.S. real estate, according the National Association of Realtors (NAR).
But the decline in Canada-based searches coincides with some Canadians growing disillusioned with the United States. Shortly after President Trump took office in January, he instituted high tariffs on goods from Canada, and also made a number of comments about annexing Canada as the 51st state.
In addition to trade concerns, the Canadian dollar has been relatively weak this spring, making it harder for Canadians to afford already-expensive American real estate.
Normally, Phoenix Redfin agent Heather Mahmood-Corley works with about five Canadian buyers each spring — mostly older folks looking for a second home.
But this year, there were none.
“People from Canada are retreating from owning real estate in the U.S. because of political tensions,” Mahmood-Corley said. “Some of them are worried it will no longer be practical to travel back and forth between the two countries, and some don’t want their money tied up in the U.S.”
Significantly fewer Canadians are searching in warm places that typically attract a lot of Canada-based second-home buyers. The number of Canadians searching for homes in both Miami and Orlando declined by about 30% year over year in May, for example.
“I haven’t worked with a Canadian buyer in at least a year,” said Marsha McMahon-Jones, a Redfin agent in Palm Springs, Calif. “I’m in touch with a few potential buyers, but they’re staying put in Canada for now with the idea of potentially making a move if and when Canada-U.S. relations improve.”
