As Canadian buyers cautiously return to the U.S. housing market, Phoenix has emerged as one of the nation’s hottest destinations for cross-border home shopping, according to new data from Realtor.com.
In the first quarter of 2026, Phoenix ranked among the top U.S. markets attracting Canadian home shoppers, with Canadians accounting for 66.9% of all international home-shopping demand in the metro area — the third-highest share in the nation behind only Cape Coral and Naples, Florida.
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Even more striking, Phoenix recorded one of the country’s largest year-over-year increases in Canadian interest, climbing 6.7 percentage points from 2025, signaling renewed momentum despite lingering economic tensions between the U.S. and Canada.
For Greater Phoenix, the trend reinforces the region’s growing appeal as an international housing destination, especially for buyers seeking warm weather, lifestyle amenities and relative affordability compared with other global markets.
“Canadian buyers are re-entering the U.S. market, but cautiously,” said Jiayi Xu, economist at Realtor.com. “The rebound in interest we’re seeing in Sun Belt and Southwest metros reflects that the appeal of warm weather and relative affordability hasn’t faded.”
Markets with Highest Share of Canadian International Demand (2026Q1)
| Market | Canadian Share of Int’l Demand | YoY Change (2025Q1–2026Q1) |
| Cape Coral, FL | 71.0 % | +9.2 ppt |
| Naples, FL | 70.9 % | +8.8 ppt |
| Phoenix, AZ | 66.9 % | +6.7 ppt |
| North Port, FL | 66.2 % | +6.6 ppt |
| Tampa, FL | 58.8 % | +4.6 ppt |
| Riverside, CA | 56.0 % | +1.6 ppt |
Canadian buyers remain the largest source of international demand on Realtor.com, accounting for 37.8% of all international traffic in the first quarter of 2026. While that marks a rebound from 2025, when interest dropped following U.S. tariffs on Canadian goods, it still trails pre-tariff levels seen in 2024.
Phoenix’s strong showing places it ahead of many nationally recognized markets and highlights the Valley’s growing stature among international buyers. Realtor.com data shows Sun Belt and Southwest metros are increasingly outperforming legacy coastal markets as buyers prioritize affordability, lower taxes and quality of life.
The timing could further benefit the Valley’s housing market. While higher mortgage rates continue to challenge many domestic buyers, international and cash-heavy purchasers — particularly retirees and second-home buyers — are helping sustain activity in desirable Sun Belt markets.
Phoenix joined Cape Coral, Naples, North Port and Tampa, Fla.; and Riverside, Calif. among the markets with the highest concentration of Canadian home-shopping demand.
The trend comes as some longtime global real estate magnets lose momentum. Los Angeles, for example, has seen international buyer interest steadily decline over the past six years, weighed down by rising costs, insurance concerns and tax burdens.
For Phoenix, the message is increasingly clear: Canadian buyers still see the Valley as one of the best places in America to put down roots — or escape winter.
