Canadians are rushing to sell homes in Florida amid rising tariffs and rising costs
Douglas Elliman Florida Director of Luxury Sales for Luxury Adzem talks to Fox News Digital about the surge in Canadian customers hoping to offload their homes in Florida over the United States. ‘
A new chill is rushing through Florida’s Real Estate Market – and it’s coming from the north.
Canadian Home Owners, long among the largest foreign investors in US Property, are now selling their homes in Florida amid escalating trade tensions, fears of tariffs and a weaker Canadian dollar than ever before.
“We’ve had a huge push from our Canadian clients who have called us to actually list their properties just as our season is starting,” Douglas Elliman’s Florida Director of Luxury Adzem told Fox News Digital. “They feel the time is right for them to sell.”
Historically, Canadians make up about 13% of all our foreign buyers. In recent months, there has been a decline in Canadian Bourser Searches in Florida, according to Realtor.com. Adzem, who saw the operation of his Canadian clients, noted three main reasons for wanting to leave the sun state.
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“[Number] One of the increased costs of holding Florida Real Estate. Number Two, I feel like the trade unions and the tremendous volatility that we’re seeing in the exchange rates between the US and the Canadian Dollar also affected that decision. And then, more importantly, on the note, they feel like there’s a perception that they don’t feel welcome in the United States,” he explained.
Canadians living in Florida are reportedly trying to sell their properties soon as trade disputes arise. (Pet Pictures)
“I always assure them that it’s definitely a case, but I think that sometimes the perception feels like the truth.”
Recently, President Donald Trump called for trade negotiations with Canada after using the words of the former Monald Reagan about the prices of Trump and Canada that exploded certain policies of their protection.
Trump imposed an additional 10% on Canadian imports in response – on top of the existing 35% levy, 25% on sutomate sumotos, 40% fines and new road registration rules for Canadians in the US
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“When we talk to our Canadian clients, they feel that the complete conflict between Canada and the United States as it relates to negotiations and economic policies makes them feel that there is something to worry about,” said Adzem.
Fluctuating exchange rates between the US and Canadian Dollar also weighed heavily, with one Canadian dollar worth about 72 cents as of Wednesday.
“While they tend to pick up the prices of steel and all the Canadian products that AMERADIAN buys, they just feel that they have uncertainty in the Canadian economy, where they spend their money,” said Adzem. “So I would say that the various aspects of the trade talks have definitely affected the overall sentiment when it comes to volatility, and uncertainty.”
“Money talk, right?” he added. “So when it comes down to the cost of freight, especially when they have to pay in Canadian dollars, which has had a lot of volatility in American Dollars … they just find it expensive all their winters here in Florida.”
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Keeping the differences in mind, Adzem said his high-net-worth clients are rethinking their pricing strategies as they consider selling their Florida properties.
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“They start seeing different advisors, not just real estate advisors, but also investment advisors, and they see how everything affects them on a personal and financial level,” she said. “And how that translates into their actual decisions to decide how they’re going to prioritize and balance their lifestyles against the economy.”
“It doesn’t matter [of] Whether they come from Ontario, whether they come from Quebec, they have one thing in common – they like to feel that they are making decisions for themselves and their families, to see how things will happen and how they will grow alone, “extends Adzem.
This new wave of Canadian sellers could change the landscape of the South Florida market, especially with the growing inventory.
“The prices will remain very similar in terms of the general combined prices … and, in fact, more offers on the retail side will be important for us,” Adzem said. “We need more establishment. While we were hoping to get more establishment during the summer, we didn’t get much … that will satisfy demand from domestic buyers, especially from California and New York.”
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Adzem also dismissed fears of excess, believing there is still room for growth before hitting that point.
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“The million dollar question,” he said. “We expect continued demand. And we feel that the Governor of Florida has really stepped up in terms of helping to continue infrastructure development in Florida to accommodate new buyers coming in.”
“I call it reinvention … Real Estate is about emotions, and what we know for a fact is that if people feel more emotional and feel more certain, they will continue to want to buy.”
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Fox Business’ Diana Stancy contributed to this report.
