Canadian searches for U.S. real estate shows steep decline: report
Article content
Nearly 30 per cent fewer Canadians searched for properties to buy or rent in the U.S. this May, compared to last year, according to a report by real estate company RedFin. The decline began in February. That was around the same time tensions were rising between the neighbouring countries, sparked by U.S. President Donald Trump's heated rhetoric about Canada becoming the 51st state and the beginning of a trade war, when 25 per cent tariffs were implemented on Canadian goods going to the U.S.
Article content
Article content
Article content
'The Canadian dollar has been relatively weak this spring, making it harder for Canadians to afford already-expensive U.S. real estate,' RedFin said in its report.
Article content
Article content
The decline has affected 48 of the largest metro areas in the United States, according to RedFin. That includes Canadians searching for homes in Houston, which dropped 55.2 per cent year over year in May, as well as Philadelphia, by 53 per cent, and Chicago, by 47 per cent.
Article content
The report also noted that the housing market in Florida for both American and Canadian buyers 'has cooled.' The state is a popular destination for Canadian snowbirds. In April, lawmakers in the U.S., including a Florida congresswoman, cosponsored a bill that would allow Canadian snowbirds to visit for longer. The report cited the lack of interest in the state was likely due to a surge in insurance costs in its coastal regions as well as intensifying climate disasters.
Article content
Article content
Canadians searching for homes in Miami and Orlando declined by about 30 per cent year over year in May, the report said.
Article content
Article content
The head of economics research for Redfin Chen Zhao told National Post in an emailed statement on Tuesday that the U.S. real estate market is 'already weak.' She added that it has had historically low sales volume for the past three years and prices are starting to fall in many parts of the country.
Article content
'If Canadian demand continues to fall, then that means further weakness for the U.S. real estate market,' she said. 'The importance of Canadian buyers will vary by geography, so the impact will be large in places like Florida, Palm Springs in California, Texas and Arizona.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
16 minutes ago
- Toronto Star
Orthodox Christians in Alaska pray for peace ahead of Trump-Putin summit
ANCHORAGE (AP) — Orthodox Christians across Alaska have been taking part in three days of prayer for peace ahead of Friday's summit there between U.S. President Donald Trump and Russian President Vladimir Putin, which will focus on the war in Ukraine. Orthodoxy is the majority religion in both Russia and Ukraine, although the religion has also been a source of controversy. The Russian church's leadership has strongly supported Russia's invasion of Ukraine, and the war has aggravated a schism among Ukraine's Orthodox.
Toronto Sun
16 minutes ago
- Toronto Sun
LILLEY: Carney silent as China blasts Canada's canola industry
It's an industry bigger that the biggest in Ontario and yet the Carney Liberals are silent as China attacks our producers. Get the latest from Brian Lilley straight to your inbox Canola crop field in full blossom near Leader, Sask. Photo by Larry MacDougal / THE CANADIAN PRESS Canola, the yellow flowering plant that gives so much colour to prairie fields as you drive across the country, is worth more as an industry than auto, steel and aluminum combined. You wouldn't know that based on the actions, and lack of reactions, from the Carney government. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account China just slapped Canadian canola seed with a 75.8% tariff on top of existing tariffs of 109% on canola oil and canola meal. This is a product that has an economic impact of $43 billion per year for Canada's economy. You would think that this would result in outrage from Canadians, especially the Elbows Up Brigade that are forever lamenting Donald Trump's tariffs on Canadian steel, aluminum and auto production. There has been no statement from Prime Minister Mark Carney, his industry minister Melanie Joly has been silent and the statement from his ministers in charge of agriculture and international trade was weak at best. 'Canada is deeply disappointed with China's decision to implement provisional anti-dumping duties in its self-initiated investigation into imports of canola seed from Canada,' said a statement from ministers Heath MacDonald and Maninder Sidhu. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. China takes about $5 billion worth of canola products each year and is our second biggest export market after the United States. Is the Carney government refusing to take the same kind of strong stance they do with other industries because this is a product grown on the prairies, far from the Toronto-Ottawa-Montreal triangle that runs Canada's political and media establishment or is this because they can't scream Orange Man Bad and yell about Donald Trump? 'Of course,' Conservative Leader Pierre Poilievre said when asked if he thought the Carney government would have responded by now if China had tariffed an Ontario or Quebec product. 'I mean this, this Liberal government couldn't care less about the West. They disrespect its main industries,' Poilievre added, 'Liberals don't care about Western farmers and Western producers.' This advertisement has not loaded yet, but your article continues below. Poilievre asked why the federal government was standing behind the financing of the decision by the B.C. government to buy four ships from China. B.C. Ferries, an entity that is wholly owned by the British Columbia government is buying four new ferries from a state owned Chinese shipyard and the federal government is financing the deal. 'I believe the first thing we should do is cancel the billion dollar federal loan,' Poilievre said Thursday in Saskatoon. 'Mark Carney is giving a billion dollars of ship building contracts through a taxpayer funded loan to the Chinese government and the Chinese economy. That is crazy at a time when they're targeting our farmers.' Saskatchewan Premier Scott Moe was trying earlier this week, to no avail, to explain how important this crop is to Canada's economy. This advertisement has not loaded yet, but your article continues below. 'We've estimated about 12 million acres of canola seeded in Saskatchewan just this year,' Moe said. Read More 'To put this in context, this $43 to $45 billion canola industry, Canadian canola industry that we have employing just over 200,000 people, that is significantly larger than the steel industry, the aluminum industry and the car manufacturing industry combined, it's about the same size as the Canadian forestry industry, of which we saw significant supports for just this past week.' Despite their size, despite their impact on the economy, despite the jobs on the line, the canola industry hasn't seen any elbows go up, they haven't seen the supports offered to steel or forestry. The Carney government has been near mute on this file, in part I believe because they don't win enough seats in Western Canada, in particular Saskatchewan. Western alienation, western separatism is a real and growing issue and one that the Carney government needs to deal with. Not giving the same support to a major industry because it is based in an area the Liberals don't do well in won't solve the problem. Neither will the fact that more support has been offered to the electric vehicle industry, which still doesn't really exist in Canada, than has been offered to a very real and thriving canola industry. Canada needs better than this. RECOMMENDED VIDEO Toronto & GTA Columnists World Sunshine Girls Toronto Blue Jays
Winnipeg Free Press
16 minutes ago
- Winnipeg Free Press
Orthodox Christians in Alaska pray for peace ahead of Trump-Putin summit
ANCHORAGE (AP) — Orthodox Christians across Alaska have been taking part in three days of prayer for peace ahead of Friday's summit there between U.S. President Donald Trump and Russian President Vladimir Putin, which will focus on the war in Ukraine. Orthodoxy is the majority religion in both Russia and Ukraine, although the religion has also been a source of controversy. The Russian church's leadership has strongly supported Russia's invasion of Ukraine, and the war has aggravated a schism among Ukraine's Orthodox. 'With the leaders coming to Alaska, what is the one thing that the church can offer? That is prayers for peace,' said Archbishop Alexei of the Diocese of Sitka and Alaska in the Orthodox Church of America. The OCA is the now-independent offspring of Russian Orthodox missionaries who planted the faith in Alaska when it was a czarist territory in the 18th and 19th centuries. The church has about 80 parishes statewide and hundreds more across North America. The first prayers held Tuesday sought the help of St. Olga of Kwethluk — an Alaska Native woman who was canonized in June as the first Orthodox woman saint in North America. 'She was known to be really a healer in families,' said Alexei, who led prayers dedicated to her on Tuesday at St. Innocent Russian Orthodox Cathedral in Anchorage. 'And because of the great pain and hardship that is experienced by families in the Ukraine and also in Russia, it felt good to start there.' Wednesday's services sought the intercession of St. Herman, an early monk and missionary 'known for standing up against Russian authorities when they were doing what was wrong to the people,' Alexei said. On Thursday, the prayers focused on a historic icon of the Mother of God at the cathedral in Sitka, which was the capital of Alaska under Russian rule. Alexei said he hopes the prayers 'will touch the hearts of our leaders.' Lorinda Fortuin, one of the worshippers at Tuesday's service at the Anchorage cathedral, echoed the thought. 'My heart breaks for my Ukrainian and Russian Orthodox brothers that are killing each other, over what?' she said. 'It's just a shame, and I want to just do what I can to bring peace to this world, and I believe my prayers can play a part in that.' Mark Kalashnikov, another worshipper and a native of Russia living in the United States, said many people he knows have suffered in the war. Sundays Kevin Rollason's Sunday newsletter honouring and remembering lives well-lived in Manitoba. 'It is reassuring to see there is at least some communication happening,' he said of the summit. 'We are trying to do what is asked of us, to come together as a community locally and to pray.' ___ Smith reported from Pittsburgh. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
