Miles Zimbaluk, a Realtor® and founder of Canada to USA, has worked with snowbird clients for years, helping Canadians navigate the process of buying and selling U.S. real estate. Typically, his business is evenly split between buyers and sellers. But this year, he says, almost everyone is looking to sell.
“We just have no Canadians that are really buying properties right now,” he says.
This sell-off isn’t driven by a single factor. Rather, it reflects a broader retreat from U.S. real estate, fueled by political unease, growing housing costs, and an unfavorable exchange rate. The Canadian dollar's recent weakness—hovering around 70 cents to the U.S. dollar—has made holding and maintaining a U.S. property significantly more expensive.
If the trend continues, snowbird hot spots such as Florida, Arizona, and California could see a sharp decline in Canadian buying activity, amounting to billions in potential lost sales. Meanwhile, those redirected investment dollars might give a much-needed boost to Canada’s own vacation markets.
https://www.realtor.com/advice/sell/canadians-selling-us-homes-taxes-firpta/
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