Redfin Corporation has released a report indicating a significant decrease in the number of Canadian users searching for homes in the U.S. The data reveals a 26.4% drop in May compared to the previous year, suggesting a decline in Canadians moving south or looking for vacation homes in popular areas like Miami and Phoenix. This trend follows the implementation of steep tariffs by the U.S. on Canada, which has strained relations between the two countries. The report highlights that while the overall number of prospective buyers and renters on Redfin.com also declined, the decrease among Canadian users was more pronounced. Additionally, the cooling housing market in Florida, driven by rising insurance costs and climate concerns, is affecting interest from both American and foreign buyers. Similar trends are observed in Phoenix and Riverside, albeit to a lesser extent. The report underscores the impact of recent tariff policies on cross-border real estate interest, with a noted sharp decline starting in February and peaking in April.
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