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International home shoppers took a growing interest in US housing during the first quarter, although Canadian enthusiasm was down significantly.

New data from Realtor.com found global inquiries made up a 1.9% share of US housing demand during the first quarter, compared to 1.7% in the first quarter of 2024. This uptick came as demand from Canada dropped to 34.7% of the inquiries in the first quarter compared to 40.7% from one year earlier.

Still, Canadian home shoppers represented the largest percentage of international traffic at 34.7%, followed by shoppers from the UK (5.7%), Mexico (5.4%), Germany (3.8%) and Australia (3.2%). During the first quarter, Miami was the most popular US market for international shoppers, capturing 8.7% of international demand, followed by New York City (4.9%), Los Angeles (4.6%), Orlando (2.9%) and Dallas (2.8%).

“While international demand for US housing was a growing share of total demand, the drop from potential Canadian shoppers underscores the impact of recent trade policies on cross-border real estate interest,” said Danielle Hale, chief economist at Realtor.com. “While coastal magnets like Miami, New York, and Los Angeles continue to attract global buyers, the growing appeal of Texas markets to international buyers signals a noteworthy regional shift in investment focus, potentially driven by economic factors and business-friendly environments.”

During the first quarter, international interest grew in Austin and San Antonio – both markets were among the top 20 metros for global buyers, whereas they were not among the most popular destinations in the first quarter of 2024 or the first quarter of 2020, prior to the pandemic.

Hale added, “Mexican buyers likely tend to favor US border cities because of their proximity to home, strong cultural and language connections, established family and business networks, and easier access to education, healthcare and cross-border travel—making these areas both practical and familiar for living and investment.”