Real estate agents say they are seeing more Canadians cashing out, further softening property prices in warm-weather states that have long attracted retirees and tourists from cold and snowy Canada.
Canadians spent close to $6 billion on U.S. real estate from April 2023 to March 2024 - making up 13% of all foreign transactions - more than any other nationality, according to data from the National Association of Realtors.
Laurie Lavine, a realtor in Arizona who helped the McMullens with their sale, told Reuters that he currently has 18 listings from Canadians looking to sell, compared with the usual two to four per quarter.
The first quarter is typically the peak buying season for condominiums in the region, coinciding with when many snowbirds are in town, said Andrea Hartmann, managing partner of the Sandy Hartmann Group, a real estate firm in the Tampa Bay area.
“Since the beginning of the year we have not received an offer from a Canadian buyer even once, and normally we would,” she said.
Time for Mexico?
honestly Spain is beautiful
Sure, but if you’re specifically trying to go South, Spain is about the same latitude as most Canadian cities.
Right now Spain is a lot warmer because of an Ocean current that brings warm water up to Europe. For as long as that current holds up, Spain will have a lot nicer climate. Once the current collapses, though, Spain and the rest of Europe will get a lot colder.
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