Tampa, Fla. (WFLA) – Few Canadians are looking for homes across Florida and across the United States, according to a new Redfin report.
The real estate agency said the number of Canadian users looking for a US home fell 26.4% year-on-year in May. So far, April saw the biggest drop in the number of Canadians looking for a home in the US at 34.2%, the report said.
Redfin said the total number of future buyers and tenants looking for a home has also decreased, but is only a small portion of that amount.
The real estate agency initially reported a decline in Canadians looking for US homes in February, when Canadians implemented a 25% tariff on imports from Canada and Mexico.
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“The decline in searches in Canadian-based US homes coincides with some Canadians who are disillusioned with the US,” Redfin reported. “Suddenly after President Trump took office in January, he commented on setting high tariffs on goods from Canada and making Canada a ’51st state’. In addition to trade concerns, the Canadian dollar has been relatively weak this spring, making it difficult for Canadians to afford already expensive US properties. ”
In Florida, Redfin said the housing market is cooling for both American and foreign buyers.
“As insurance costs increase and climate disasters intensify, few people are interested in buying a home in Florida,” the report said.
According to Redfin, the number of Canada-based Redfin users looking for a Tampa home fell 23.4%. Miami saw the biggest decline, with Canadian users looking for a home 30% less.
Here’s how Canada-based Redfin users looking for a home in Florida have changed last year:
Click here to see the full Redfin report.
