Why Are Fewer Canadians Buyers in West Palm Beach?

Interest from Canadian homebuyers in West Palm Beach is falling fast. According to a Redfin report, the number of Canadians buying homes in West Palm Beach dropped by 26.6% year-over-year as of August 2025. This decline is sharper than in any other major U.S. metro area.

While Canadians Buyers in West Palm Beach have long been a major force in South Florida real estate, things are changing. With a weaker Canadian dollar and shifting economic and political concerns, fewer Canadians are shopping for homes in the U.S.

Canadian Interest in West Palm Beach Real Estate Is Dropping

Redfin's August 2025 data shows a dramatic 26.6% decline in searches from Canadian users for homes in the West Palm Beach area.

Compare that to:

Fort Lauderdale: down 16.2%
Miami: down 13.4%
Tampa: down 23.1%
Orlando: down 23%

Nationwide, Canadian interest dropped 19.5%. But West Palm Beach was hit hardest, showing the most significant year-over-year dip in Canadian searches across all major U.S. markets.

Line graph showing year-over-year decline in Canadian Redfin searches for homes in West Palm Beach, Tampa, and Orlando in 2025, with West Palm Beach leading at -26.6%.

Why Are Canadians Pulling Back From U.S. Real Estate?

The Weaker Canadian Dollar

The Canadian dollar has lost value compared to the U.S. dollar, making American homes more expensive for Canadians Buyers in West Palm Beach. For example, a $600,000 home in West Palm Beach now costs significantly more in Canadian dollars than it did two years ago.

Political and Economic Concerns

Redfin analysts note that recent U.S. political shifts have made some Canadians wary of investing in the country. Tariff policies, financial regulations, and global tensions have all played a role.

Economic Conditions at Home

Higher interest rates and inflation in Canada have reduced spending power. Canadian investors and retirees are thinking twice before putting large sums into foreign property.

Bar chart showing nationwide decline in Canadian Redfin searches for U.S. homes from January to August 2025, peaking at a -34% drop in April.

Why Do International Buyers Still Love West Palm Beach?

Even though Canadian interest is down, foreign buyers continue to be a strong force in the South Florida housing market.

Latin American Buyers on the Rise

Buyers from countries like Colombia, Argentina, and Venezuela are still investing heavily in West Palm Beach and surrounding areas. Miami, in particular, remains the No. 1 market for international buyers in the U.S.

According to the Miami Association of Realtors, foreign buyers spent $3.1 billion on South Florida residential real estate last year.

Why Do They Choose South Florida?

No state income tax
Strong rental demand
Great weather and beaches
International airports and business hubs

These benefits continue to attract foreign investors, even as Canadian participation slows.

What the Drop in Canadian Buyers Means for West Palm Beach?

Slower Activity in Certain Segments

Vacation homes and condos, popular among Canadian retirees and snowbirds, may see slower sales or softer pricing due to the shift in Canadians Buyers in West Palm Beach. This could create opportunities for U.S. buyers looking for second homes.

Less Competition for Local Buyers

Fewer cash-rich international buyers may make it easier for local residents and U.S. investors to enter the market, especially in the $400,000–$800,000 price range.

Why Do You Need a Local Real Estate Expert in Today’s Market?

Even with changes in who’s buying, the West Palm Beach real estate market remains active and competitive. Working with a local expert gives you the insight you need to succeed—whether you're a Canadian buyer, U.S. investor, or local seller.

The right West Palm Beach real estate agent understands both international and domestic trends. That’s why so many trust The Mastropieri Group Realtors® . Our team has the experience and local knowledge to help you make smart decisions in any market condition.

Call us at (561) 544-7000to speak with one of the top real estate agents in West Palm Beach Florida and get started today.

FAQs About Canadians Buyers in West Palm Beach

Can Canadians still buy homes in Florida?

Yes. Canadians Buyers in West Palm Beach face no legal restrictions. There are no ownership limitations, but buyers should consider tax implications and financing differences.

Do Canadians pay extra taxes when buying U.S. property?

There’s no extra tax at the time of purchase, but sellers may be subject to the Foreign Investment in Real Property Tax Act (FIRPTA). Consult a cross-border tax expert.