Key Takeaways:
- Canadian homeowners are increasingly selling their Florida properties due to:
- Rising costs of holding U.S. real estate.
- Trade tensions between the U.S. and Canada, including new tariffs.
- Currency volatility, with the Canadian dollar down to about 72 U.S. cents.
- A sense of unwelcome sentiment amid geopolitical friction.
- Market Impact:
- Douglas Elliman’s Florida director of luxury sales, Senada Adzem, reports a surge in Canadian clients listing homes.
- Increased inventory could rebalance South Florida’s market, benefiting domestic buyers from California, New York, and elsewhere.
- Despite concerns, Adzem expects continued demand and believes Florida infrastructure development supports new buyers.
- Buyer Behavior:
- Canadians are consulting investment and real estate advisors to strategically reposition assets.
- Many are acting proactively to balance lifestyle priorities and economic realities.
Bottom line: Trade and currency pressures are prompting Canadian homeowners to exit Florida’s luxury real estate market, creating more supply and potential opportunities for U.S. buyers.