Snowbirds are still interested in buying U.S. vacation properties, even though they might not be ready to travel south for a while, according to new data from the Royal Bank of Canada.

Most Canadians (69%) said in a survey that they are avoiding travel to the U.S. for now, but about half (51%) still say they like travelling south of the border. Younger Canadians, between the ages of 35 and 54, are even more interested with 58% in favour of vacationing stateside.

Of those planning to travel to the U.S. in the next year, about one in three (31%) already own or are considering owning property south of the border.

But for more respondents, owning a U.S. vacation home is “an aspiration rather than an immediate plan,” says RBC.

The RBC findings come as many Canadians have sold or are considering the divestment of their U.S. vacation homes and purchasing others in Canada or other countries instead. Snowbirds have expressed frustration with Canada-U.S. trade tensions and U.S. President Donald Trump’s attitude toward Canada.

Joanne Yu, RBC’s senior manager of U.S. home equity financing, told Connect that Canadians are still exploring what cross-border travelling or ownership could look like when conditions improve.

“Right now, we are seeing Canadians taking a thoughtful approach,” said Yu. “They are balancing some practical concerns, like, of course, exchange rates, but with their personal aspirational goals like vacationing or for future retirement planning. So for many it may not be an immediate plan.”

Vacation homes are the top draw when it comes to Canadians venture south. Women are particularly interested in acquiring them, 38% compared to 25% of men.

But “practical barriers” such as exchange rates, maintenance costs and affordability concerns are causing Snowbirds to pause on investments. Also, the geopolitical situation is “definitely a factor,” said Yu.

Younger Canadians (aged 18 to 34) are showing the most interest, researching potential purchases more often than the general population.

“Together, the findings suggest a moment of cautious curiosity,” said RBC. “Canadians continue to see opportunity in U.S. real estate, but most are waiting for the right conditions, economically and emotionally, before making a move.”

While many RBC clients have sold their U.S. properties, everyone’s situation is different, said Yu.

“Some of the clients I talk to, the reason they want to sell is actually due to aging and health concerns,” said Yu. “I’ve also seen clients selling the existing one to either upscale or downsizing. So everybody is different. We always recommend our clients, before they make the decision, to consult a professional. Talk to their banker, their investment advisor, their accountant, see what’s the best for them based on their situation in overall planning,”

Yu said “it’s really hard to say” whether more Snowbirds will sell their properties going forward.

“It really depends on the bigger environment,” said Yu. “Unfortunately, I don’t have a crystal ball, but currently, just from our clients’ requests, and the clients I talked to, it’s relatively calm right now.

“They are in a wait-and-see situation.”

Yu said younger Canadians’ interest in acquiring a U.S. property points to potential long-term demand for U.S. vacation homes. While Canadians’ perception of the U.S. has become more complex in recent years, residents in this country still see opportunities south of the 49th parallel.

She said that Canadians’ strong ties to Americans through family and business connections, among other ways, will also influence purchasing decisons.

Ultimately, RBC views Canadians’ approach to buying U.S. vacation homes as one of cautious optimism.

“It’s less about how people feel today and more about how they are planning for tomorrow,” said Yu.

Pictured: Condominium complex in Phoenix.

Photo: Realtor.com