Canadian appetite for US homes keeps shrinking
“Canada’s economy is starting to recover after a weak start to the year, but uncertainty around trade, jobs, the domestic housing market and inflation is still prompting many Canadians to think twice about making a major purchase,” said Chen Zhao, head of economics research at Redfin, which is powered by Rocket.
“Buying a home in another country is a particularly big financial commitment, so it makes sense that some Canadians are putting those plans on hold.”
The broader context is one mortgage brokers in Canada know well. According to the Ownright Operators Report, economic anxiety has displaced interest rates as the dominant force stalling client decisions in 2026.
New tariffs announced by U.S. President Donald Trump are adding fresh uncertainty to Canada’s economy, raising concerns about homebuyer confidence, interest rates, and the path forward for the housing market.https://t.co/2IGPBLg8pM
— Canadian Mortgage Professional Magazine (@CMPmagazine) July 22, 2026
Texas and New York hit hardest
Canada-based home searches fell in 45 of the 50 most populous US metros.
The steepest declines were concentrated in Texas and the Northeast, with San Antonio posting a 51.8% year-over-year drop, followed by Austin at 48.6%, Nassau County, New York at 33.4%, and Houston at 32.5%.
