Latest news with #RedFin
Edmonton Journal
09-07-2025
- Business
- Edmonton Journal
Canadian searches for U.S. real estate shows steep decline: report
There has been a nationwide effort among Canadians to buy local and travel domestically this year, as a strained relationship with the United States continues. And now, a new report is suggesting that the number of Canadians interested in U.S. real estate has declined. 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 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 Canadians have made up a large portion of international buyers in the United States. In 2024, they were listed as the top foreign buyers — at 13 per cent — spending US$5.9 billion, according to the National Association of Realtors. 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.'
National Post
09-07-2025
- Business
- National Post
Canadian searches for U.S. real estate shows steep decline: report
There has been a nationwide effort among Canadians to buy local and travel domestically this year, as a strained relationship with the United States continues. And now, a new report is suggesting that the number of Canadians interested in U.S. real estate has declined. 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.'
Vancouver Sun
09-07-2025
- Business
- Vancouver Sun
Canadian searches for U.S. real estate shows steep decline: report
There has been a nationwide effort among Canadians to buy local and travel domestically this year , as a strained relationship with the United States continues. And now, a new report is suggesting that the number of Canadians interested in U.S. real estate has declined. 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. '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. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The steepest drop came in April, when Canadian searches for U.S. homes fell by 34.2 per cent year over year. 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. 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. Canadians searching for homes in Miami and Orlando declined by about 30 per cent year over year in May, the report said. Canadians have made up a large portion of international buyers in the United States. In 2024, they were listed as the top foreign buyers — at 13 per cent — spending US$5.9 billion, according to the National Association of Realtors . 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. '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.' Zhao said she found it 'striking' how the decrease in interest lined up so well with tariff volatility. 'The White House first announced tariffs on Canada at the beginning of February, and there was a sharp decline from January to February in traffic from Canada,' she said. 'I think that it will take some time for the sentiment to change. Canadians will need to no longer feel like the U.S. is treating them unfairly in its trade policy.' The percentages in the technology-based real estate brokerage's report were calculated based on unique users located in Canada who conducted online searches of homes for sale and for rent in the U.S. Unique users refer to the 'number of different people who access U.S. home listings' on the site or the app 'within a defined period,' according to RedFin. The user is counted one time for that period. The latest data from Statistics Canada shows that travel to the U.S. from Canadian airports has also been on a downward trend . In May, for the fourth consecutive month, the number of passengers on flights to the U.S. decreased year over year by 8.2 per cent. Meanwhile, Canada's largest airports saw higher volumes of passenger traffic. International travel, excluding the U.S., was on the rise — up 4.3 per cent this May, compared to 2024. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Yahoo
18-06-2025
- Business
- Yahoo
Home prices are increasing the fastest in these 10 California cities
Home prices have come down slightly in California, according to a new report. In May 2025, RedFin found home prices were down 0.088% yearly, with the median sale price $895,000. Overall, the number of homes sold was down 8.9%, from 26,965 in May 2024 to 24,579 this year. Just over 40% of homes sold in May were above list price, down 9.7 points year over year, and 34.8% of homes had a price drop, up from 24% in May last year. While the data signals a slight respite for potential homebuyers in California's hot housing market, the outlook varies depending on where you look. RedFin has also identified which cities have seen the fastest rising home sale prices in the last year. Tustin Price hike: 30.7% May median sale price: $1.15 million Glendale Price hike: 29.6% May median sale price: $1,393,000 Berkeley Price hike: 22.3% May median sale price: $1,663,000 Sunnyvale Price hike: 20.7% May median sale price: $2.3 million Diamond Bar Price hike: 15.2% May median sale price: $1,040,000 Alameda Price hike: 16.3% May median sale price: $1,412,500 Costa Mesa Price hike: 16% May median sale price: $1,640,000 Los Gatos Price hike: 15.5% May median sales price: $2.7 million Chico Price hike: 13.9% May median sale price: $512,500 San Clemente Price hike: 12.1% May median sale price: $1,895,000 In California, the income needed to afford a home could exceed $250K annually, according to a new report by HireAHelper. By 2030, home prices are projected to outpace income growth in all fifty states, with a national median sale price of $615,000. In California, the outlook is even more stark, requiring an income that is higher than any other state. Looking at housing data within the state, report authors identified Irvine with the highest predicted house price in 2030 of nearly $3 million, requiring a minimum income of $589,862. Along with Montana and Idaho, California is among several Western states poised to become unaffordable for median earners. The number of homes for sale has increased in California over the last year, according to RedFin. In May 2025, were 101,787 homes for sale in California, up 8.5% from last May. The number of newly listed homes was 34,659, down 8.2% year over year. The average months of supply is 3 months, which remained unchanged. The cities with the most competitive housing market are centered around the SF Bay Area and within commuting distance of high-paying jobs in Silicon Valley: Alameda, Daly City, Berkeley, Castro Valley, Danville, Livermore, Hayward, Cupertino, and San Ramon. Citrus Heights, a small city (pop: 86,909) in the Sacramento metro area, was also identified in the Top Ten of most competitive by RedFin. This article originally appeared on Palm Springs Desert Sun: These 10 California cities have greatest home sale price hikes
Yahoo
29-04-2025
- Yahoo
Vessel collision on Lower Mississippi River sinks barge: U.S. Coast Guard
NEW ORLEANS (WGNO) — The United States Coast Guard is investigating a vessel collision on the Lower Mississippi River that sunk a barge. According to guardsmen, around 9:20 p.m. on Sunday, April 27, Watchstanders at the New Orleans sector were alerted that the Panamanian flagged Motor Vessel, Isla De Bioko and the US flagged towing vessel, Ginny Stone, collided at mile marker 110. Oil and gas mixture release reported near Garden Island Bay As a result, six barges broke away and drifted down river while a barge containing Urea sank 75 feet below the water line. Assist tugs were able to retrieve four barges but two became lodged on anchor lines of Motor Vessel's Red Fin and Bulker Bee 30. Due to the safety hazard, the Captain of Port temprarily closed the Lower Mississippi River Waterway from mile marker 108 to 111 above Head of Passes. Second indictment for two accused in New Orleans staged crash scheme murder At 3 p.m. on Monday, the Coast Guard reported the two barges were removed and that waterways were reopened to vessel traffic. No injuries were reported. Coast Guard officials say the elevated river levels have been contributing to challenging conditions. They are working to determine the responsible man arrested, accused of having over 750 files of child porn Vessel collision on Lower Mississippi River sinks barge: U.S. Coast Guard Behind the Scenes of 'Vietnam: A Lost Generation' Kidcast: Keegan from Chauvin! 15-year-old sizzles as Jazz Fest piano man Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
