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Canadian Buyers Flock Back to Phoenix Despite Cross-Border Tensions
New Realtor.com data shows Canadians account for nearly 67% of international home-shopping interest in metro Phoenix, as Sun Belt affordability draws snowbirds and retirees back to the U.S. housing market.
Published: July 28, 2026
Canadian home shoppers are cautiously returning to the U.S. real estate market, and Phoenix has emerged as one of the country's hottest destinations for cross-border buyers, according to new first-quarter 2026 data from Realtor.com.
The Arizona capital ranked third nationally for the share of international home-shopping demand coming from Canada, with Canadians accounting for 66.9% of all foreign interest in the metro area. Only Cape Coral and Naples, both in Florida, ranked higher. Phoenix also posted one of the largest year-over-year gains in Canadian interest of any U.S. market, climbing 6.7 percentage points since the first quarter of 2025.
Realtor.com economist Jiayi Xu said Canadian buyers are re-entering the U.S. market carefully, drawn by warm weather and relative affordability in Sun Belt and Southwest metros even as broader cross-border economic tension lingers. Canadians remain the single largest source of international traffic on Realtor.com, representing 37.8% of all such activity in the first quarter, though that figure is still below levels recorded before tariffs on Canadian goods took hold in 2025.
Industry watchers say the rebound is being fueled largely by retirees and cash buyers seeking second homes, a group less sensitive to higher mortgage rates than typical domestic purchasers. Phoenix's affordability, lower tax burden and lifestyle amenities have helped it outperform legacy coastal markets such as Los Angeles, where international buyer interest has steadily declined in recent years amid rising costs and insurance concerns.
While the pace of Canadian home buying in the U.S. has not returned to pre-tariff 2024 levels, the renewed momentum in Phoenix and similar Sun Belt metros suggests that cross-border real estate ties between the two countries remain resilient even during periods of trade friction.
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