Press release
Realtor.com®: Canadian Interest in U.S. Real Estate Continues to Cool, but Remains the Top Source of International Home Shopping
High-end properties entice international home shoppers, despite geopolitical unease AUSTIN, Texas, Nov. 4, 2025 /PRNewswire/ -- International home shopping
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[{"type":"text","content":"\n High-end properties entice international home shoppers, despite geopolitical unease\n \n \n AUSTIN, Texas, Nov. 4, 2025 /PRNewswire/ -- International home shopping activity edged down slightly in the third quarter of 2025, led by a continued cooling of Canadian interest, according to Realtor.com®'s latest International Demand report. International shoppers made up 1.5% of U.S. online home search traffic during the quarter, down modestly from 1.6% one year ago but still above the 1.2% share in 2019, pointing to steady global interest in U.S. housing even as market conditions evolve.\n \"Global economic uncertainty, policy shifts, and the resulting exchange rate fluctuations are creating mixed conditions for international buyers,\" said Danielle Hale, chief economist at Realtor.com®. \"These factors have led to some moderation in foreign demand for U.S. homes compared to last year. Still, interest remains above pre-pandemic levels, reflecting ongoing engagement from global home shoppers in key U.S. markets.\"\n \n Canada's Share Slips Again, Down to 32%; Florida and Arizona Remain Top DrawsWhile Canada remains the top source of international home shopping to the U.S, the share of international online traffic from Canada continued to show year-over-year declines, dropping from 36.6% in the third quarter of 2024 to 32.1% during the same period this year.\n This decline coincided with the period following the U.S. imposition of tariffs on Canadian goods, suggesting that trade tensions and exchange rate volatility may have tempered cross-border housing interest. Still, Canadian buyers dominated traffic to several metros, including Cape Coral, Fla. (61.4%), Phoenix, Ariz. (61.0%), and North Port, Fla. (58.8%).\n Other major sources of international U.S. home shopping demand included the U.K. (6.5%), Mexico (5.6%), Germany (4.1%), and Australia (3.4%).\n \n Homes Viewed 29.8% Pricier Than Domestic Shoppers, But Luxury Demand CoolsInternational shoppers typically target higher-end properties, often for investment or employment-related relocation. In Q3 2025, the median home viewed by international buyers in the top 20 U.S. markets was 29.8% more expensive than those viewed by domestic shoppers, although that gap has narrowed from the 34.2% average gap between 2022 and 2024.\n The shift reflects a faster decline in median viewed prices...