Ongoing trade tensions with the U.S. don’t appear to be discouraging Canadians’ homebuying intentions.
A recent survey asked Canadians whether the current trade situation with the U.S. has impacted plans to purchase a home in the next two years.
Some 46 per cent indicated that they had no plans to purchase, but Canadians with plans to purchase indicated that the tariffs are not broadly disrupting homebuying activity.
In fact, among Canadians who had not ruled out a purchase in the next two years, nearly eight in 10 (79 per cent) say tariffs aren’t factoring into their plans, said Wahi, who conducted the study.
Just 16 per cent of these Canadians say they are somewhat or much less likely to purchase given the strained relations with Canada’s trading partner to the south. Some 4 per cent say the trade situation makes them more likely to buy.
“Some homebuyers will definitely be more cautious than others, but in general it looks like Canadians aren’t going to let U.S. foreign policy get in the way of their homebuying aspirations,” says Wahi Economist Ryan McLaughlin.
The latest home sales data from the country’s biggest housing market appears to support the idea that Canadian homebuyers are undeterred. This July was the busiest for sales activity in the Greater Toronto Area since 2021, according to the Toronto Regional Real Estate Board.
Although many Canadians may seem unfazed by parlous trade policies, previous Wahi analysis suggests that concerns may be affecting some buying decisions — at least in certain local markets that are particularly vulnerable to tariffs.
Home Prices Falling in Oshawa
In fact, home prices are already falling in some of Canada’s most tariff-sensitive markets. “On a year-over-year basis, we saw prices recently decline in markets such as Hamilton, Belleville, and Oshawa,” says McLaughlin, citing RPS-Wahi House Price Index data from May. “These markets are reliant on the steel industry and manufacturing, so buyers may be concerned about job losses should tariffs take a toll on export-based economies,” he explains.
More so than affecting domestic homebuying activity, tariffs could throw a wrench in Canadians’ plans to snap up property on American soil. A previous Wahi report found that the prospects of a North American trade war were causing some Canadians to put plans to buy U.S. real estate on ice.
In 2024, Canadians were the top foreign homebuyers in America, overtaking purchasers from China. It’s unclear whether this trend will persist in the current trade climate.
These findings are from a survey conducted by Wahi from June 17 to June 19, 2025, among a representative sample of 1,500 online adult Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 2.53 percentage points, 19 times out of 20.