Snowbirds returning north? Canadians with U.S. property are looking to sell
Political uncertainty in the United States is prompting many Canadians to sell their homes south of the border, according to a new Royal LePage survey.
The survey, conducted by Burson, found that more than half (54 per cent) of Canadians who own residential property in the U.S. plan to sell within the next year. Of those, nearly two-thirds (62 per cent) cited concerns about the current U.S. administration as their main reason.
“The polarizing political climate in the United States is prompting many Canadians to reconsider how and where they spend their time and money,” said Phil Soper, president and CEO of Royal LePage. “Canadians have been the most important foreign investors in America’s residential real estate market for years, and a significant wave of property sales would leave a noticeable mark on the regional economies that snowbirds support.”
Other sellers pointed to personal and financial reasons (33 per cent) or worsening weather conditions, such as hurricanes and flooding (five per cent).
