The landscape for international home shopping demand nationwide is a shifting scene, according to new research from Realtor.com.
In the first quarter of 2026, international home shoppers accounted for 1.6% of online shopping demand on Realtor.com, up from 1.2% in the first quarter of 2020.
Realtor.com noted that Miami kept its crown as the top U.S. destination for international buyers, drawing 10.3% of all international online views. Los Angeles, on the other hand, continued a six-year slide in global interest, while Canadian buyers – still reeling from the effects of U.S. tariffs – showed signs of cautious re-engagement with the U.S. market, Realtor.com said.
Los Angeles has been one of the most coveted addresses for international homebuyers for a long time, but Realtor.com noted its grip on global attention is slipping. International interest in the LA market has fallen steadily, with its share of international online views dropping from 7.9% in the first quarter of 2020 to 4.6% in the first quarter of 2026.
Who’s benefitting from that decline.
Dallas has emerged as a rising destination, Realtor.com noted, drawing growing interest from buyers in North America (excluding the U.S.), Oceania, and South America. North American interest in Dallas grew from 1.6% in 2020 to 2.7% in 2026; Oceania from 3% to 4.2%; and South America from 1.5% to 2.3%, the website noted.
Miami Attracts European Interest
Miami captured gains from European buyers, Realtor.com said, with interest rising from 6.9% to 8%, while Asian buyers increasingly turned to New York, where their interest rose from 6.2% to 6.6%.
“Los Angeles’s declining global appeal is less about losing its allure and more about becoming less competitive,” Realtor.com Chief Economist Danielle Hale said. “Skyrocketing insurance costs from wildfires, and California’s high tax burden, have made ownership increasingly punishing for wealthy international buyers. As high-net-worth residents relocate to Miami and Dallas, the social networks that once made Los Angeles a must-own address are thinning — and global interest follows. Sun Belt markets now offer a compelling combination of affordability, growth, and lower taxes that Los Angeles simply can’t match. For today’s internationally mobile buyer, Los Angeles is no longer the default choice.”
Realtor.com noted that a year after the U.S. imposed sweeping tariffs on Canadian goods, their impact on cross-border housing demand remain measurable.
Canadian home shoppers remain the No. 1 source of international demand on Realtor.com, accounting for 37.8% of international traffic in the first quarter of 2026, the website said.
That figure tells a story of disruption and incomplete recovery: Canadian interest plunged from 41.8% in the first quarter of 2024 — before tariffs took effect — to 34.8% in the first quarter of 2025 in the immediate aftermath, Realtor.com said. The partial rebound to 37.8% this year signals cautious re-engagement, but interest remains below pre-tariff levels, the website noted.
Canadian Affinity for the Sun Belt
Rounding out the top five sources of international homebuying interest: Mexico (6.4%), the United Kingdom (5.9%), Germany (3.9%), and Australia (3.0%).
Canadian buyers showed the strongest affinity for Sun Belt and Southwest markets, Realtor.com said.
Cape Coral, Florida, led all markets with 71% of its international demand coming from Canada, followed by Naples, Florida (70.9%), Phoenix (66.9%), North Port, Florida (66.2%), Tampa (58.8%), and Riverside, California (56.0%). These same markets also recorded the largest year-over-year gains in Canadian interest between 2025 and 2026, led by Cape Coral, Florida (+9.2 percentage points), Naples, Florida (+8.8 ppt), and Phoenix (+6.7 ppt).
“Canadian buyers are re-entering the U.S. market, but cautiously,” Jiayi Xu, Realtor.com Economist, said. “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 — but the full recovery of pre-tariff enthusiasm has yet to materialize. These trends underscore how geopolitical and economic policy decisions can have lasting ripple effects on real estate demand, even across borders.”
