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Canadians are reconsidering their U.S. property investments and are ready to flee.
A survey of 2,500 Canadian adults completed on Aug. 9, 2025, found that 54% of Canadian property owners plan to sell their U.S. homes within the next year, according to Royal LePage, a provider of services to Canadian real estate brokerages.
As for why they want to offload their stateside properties, 35% cited concerns about the current U.S. political administration as their primary motivation. Personal reasons came in at 17%, and 3% were concerned about increasing extreme weather events.
“The polarizing political climate in the United States is prompting many Canadians to reconsider how and where they spend their time and money,” says Phil Soper, president and CEO of Royal LePage.
“Canadians have been the most important foreign investors in America’s residential real estate market for years, and a significant wave of property sales would leave a noticeable mark on the regional economies that snowbirds support.”
He goes on to say that a pullback on real estate from snowbirds could be dire for the U.S. economy.
“While wealthy buyers from China and other nations also spend a great deal on American residential real estate, purchasing expensive properties in major cities as investments, Canadians actually live in the neighborhoods where they buy,” Soper says.
“They shop locally, dine out, volunteer, and join pickleball leagues. Places like Florida, Arizona, and California stand to lose millions in economic activity each year—and thousands of neighbors—if Canadian owners pull their capital from U.S. housing markets.”
Snowbirds who have already sold
Among Canadians who sold properties in the past year, 44% said it was because of the current political administration, while 27% cited personal reasons and 22% pointed to increasingly extreme weather conditions.
The survey also revealed that 32% of the snowbirds who already sold plan to reinvest in their home country.
“Across sectors, Canadians are increasingly choosing to support domestic businesses, prioritize homegrown products, and invest in their own communities,” says Soper. “This mindset extends into real estate.”
It should be noted, however, that even more sellers—45%—said they aren’t planning to reinvest in their home country.
Other reasons for selling include a softening Canadian dollar and rising U.S. housing costs. The Canadian dollar’s recent weakness—hovering around 70 cents to the U.S. dollar—has made holding and maintaining a U.S. property significantly more expensive.
But snowbirds with the means aren’t necessarily ready to offload their homes—and sunshine—even if it comes with a hurricane or three.
“I’m actually seeing the exact opposite of what the survey suggests,” Johnny DelPrete of The Exclusive Group at Douglas Elliman in Jupiter, FL, tells Realtor.com.
In August, he represented two different Canadian buyers. One snapped up a house in Jupiter for $4.5 million, and the other a house in Palm Beach Gardens for $1.6 million.
“The Canadians I’m working with aren’t talking about selling,” he says. “They’re excited about buying here because they want the lifestyle, golf, boating, warm weather, and family-friendly communities. For them, South Florida still feels like a safe place to invest and an incredible place to live.”
Canadian billionaire Lino Saputo Jr. must feel the same. Last month, he closed on a $16.5 million estate at 6640 Allison Road in Miami Beach.
Dina Goldentayer of Douglas Elliman in Miami Beach, who says Canadians are 20% of her client base, agrees that ultraluxury buyers aren’t going anywhere.
“At the ultraluxury price point, my Canadian clients are largely insulated from the types of financial barriers that might affect other buyers, whether it’s tariffs, currency fluctuations, or interest rate changes,” she tells Realtor.com.
“These are highly liquid buyers who prioritize lifestyle over short-term economic shifts.”
Dana Koch of the Corcoran Group in Palm Beach tells Realtor.com things have slowed down, but attributes that to it being a “quiet” time of the year and the unfavorable exchange rate.
“Canadians have always come to Palm Beach to get away from brutal winters, for its active lifestyle and safe environment, and that hasn’t changed one bit,” he says.
However, bicoastal Coldwell Banker agent Cara Ameer, who sells in both Florida and California, has a more mixed view.
“Many Canadians rushed to sell their homes in the spring of this year after the threat and discussions of tariffs along with economic and political uncertainty,” she tells Realtor.com.
She also notes that skyrocketing homeowners association fees in places like Florida are turning off snowbirds.
“Layer on the high cost of insurance in these areas and all of the political and economic uncertainty, and many feel it no longer makes sense to own in the states,” she says.
Martin Orefice of Rent to Own Labs in Orlando agrees.
“I don’t know if I’ve seen enough volume to call it a legitimate trend, but I have helped a handful of Canadians list their homes for sale this year,” he tells Realtor.com. “All of them volunteered that politics are part of their reason for moving.”
Additionally, he says that climate-related insurance costs are having a big impact.
“A lot of retired Canadians have beachfront property, and much of it is getting increasingly difficult to insure and keep dry,” he says.
Where do snowbirds flock?
When they are buying, Canadians follow the sunshine. Florida has consistently been the most popular state with those north of the border, according to the National Association of Realtors®, accounting for $2.5 billion worth of Sunshine State purchases in 2022 alone.
This trend has been steady over the past decade, with Florida consistently capturing the majority share of Canadian buyers in the U.S., according to Cross Border International Realty.
Next up is Arizona, with snowbirds attracted to the dry, warm climate and plentiful luxurious retirement communities. Canadian snowbirds add an estimated $1.4 billion to Arizona’s economy each year, with about 100,000 Canadian tourists traveling each winter, according to the Canada Arizona Business Council, behind only Mexico in the number of visitors.
Despite its sky-high housing costs, California remains popular, coming in at No. 3, with Canadians ringing up $1.2 billion worth of purchases in the state in 2022.
After that comes Texas with $900 million of purchases. The state’s dry climate, pro-business environment, and cosmopolitan cities like Austin and Dallas make it popular with the snowbird set.
Then comes Nevada, with $700 million in home purchases. The appeal here can mostly be summed up in two words: Las Vegas.