Vancouver, BC – June 12, 2025. The British Columbia Real Estate Association (BCREA) reports that 6,945 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in May 2025, down 13.5 per cent from May 2024. The average MLS® residential price in BC in May 2025 was down 4.2 per cent at $959,058 compared to $1,001,341 in May 2024.

The total sales dollar volume was $6.7 billion, a 17.1 per cent decrease from the same time the previous year. BC MLS® unit sales were 26 per cent lower than the ten-year May average.

“All regions of BC have seen declining home sales activity through the first five months of the year with more expensive markets slowing the most,” said BCREA Chief Economist Brendon Ogmundson. “Given that…

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Planning to move to Vancouver? Whether you're arriving from across Canada or overseas, one thing is clear—finding the perfect home in this city is no small feat. With limited land, high demand, and a constantly shifting real estate market, buying a home here can feel like decoding a puzzle. That’s where a licensed real estate agent becomes your secret weapon.

Why the Vancouver Market Is Unique

Vancouver is one of the most sought-after cities in Canada, and with good reason. From the seawall to ski hills, this city offers a lifestyle that’s hard to beat. But that appeal comes with a price. The average detached house in Greater Vancouver is now over $2 million, and even condos average close to $800,000.

Add to that the complexity of navigating…

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Living in a Vancouver condo offers convenience and an exciting urban lifestyle – but it also comes with its own set of considerations. Whether you’re a first-time buyer, an investor looking at properties in the city, or a newcomer to Canada eager to call Vancouver home, it’s important to go in with eyes open. Vancouver’s real estate scene is unique, from its strata bylaws to its high-rise buildings by the harbour. Here are five key things to remember (and thoroughly evaluate) if you plan to live in a condo in Vancouver.

1. Strata Fees and Ongoing Costs Are Part of the Package

One of the biggest adjustments for new condo owners is budgeting for strata fees (also known as condo maintenance fees) and other ownership costs. In Vancouver, these monthly…

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Vancouver, a coastal gem on Canada’s west coast, is consistently rated as one of the top cities in the world to live. Its mix of urban conveniences and stunning natural surroundings — from ocean views to mountain backdrops — draws people from across Canada and around the globe.

If you’re considering making Vancouver your home, there are some key things to keep in mind. This guide covers five crucial aspects to remember as you settle down: housing availability, cost of living, job opportunities, community life, and the daily living experience. Whether you’re moving from elsewhere in Canada, coming as an international student or expat, or relocating with family, these insights will help you prepare for a smooth transition and make the most of what this…

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Canadian employment was virtually unchanged from the previous month, gaining 8,800 jobs to reach 20.978 million in May. The employment rate held steady at 60.8%, while the unemployment rate increased by 0.1 points to 7.0%.

Average hourly wages saw a 3.4% year-over-year increase, rising to $36.14 in May. Additionally, the total hours worked rose by 0.9% compared to May of the previous year.

British Columbia Employment

Employment in B.C. rose by 0.4% to 2.963 million, with a gain of 13,000 jobs in May. In Metro Vancouver, employment increased by 0.9% to 1.715 million.

Despite job gains, the unemployment rate in B.C. rose by 0.2 points to 6.4%, while Vancouver's unemployment rate climbed 0.3 points to 6.6%.

Market Implications

May's…

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The Bank of Canada held its overnight policy rate at 2.75 per cent this morning. In the statement accompanying the decision, the Bank noted US trade policy continues to create uncertainty in the global economy and that uncertainty is likely to slow economic growth in coming quarters.

On inflation, the Bank cited stronger than expected inflation in April and survey data showing household inflation expectations rising due to tariffs as concerning trends in the evolution of inflationary pressures.

While we know with a high degree of certainty that trade wars are stagflationary – they slow growth and raise prices – what we don't know yet is how severe a trade war may be or even if it will end up materializing at all.

The immediate impact of that…

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May Brings Much-Needed Lift to Fraser Valley Housing Market

SURREY, BC – On the heels of a quiet April, Fraser Valley home sales saw a modest but encouraging uptick in May — a sign that buyer confidence may slowly be returning to the market.

The Fraser Valley Real Estate Board recorded 1,183 sales on its Multiple Listing Service® (MLS®) in May, up 13 per cent from April. Despite the increase, sales were 22 per cent below May 2024 levels and 36 per cent below the 10-year seasonal average.

Overall inventory continues to build, with active listings up six per cent in May to 10,626, an increase of 34 per cent year-over-year and 54 per cent above the 10-year seasonal average. New listings increased seven per cent from April to May, reaching 4,007.

…

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Buyers Remain Hesitant as Inventory Builds

May 2025 saw inventory levels across Metro Vancouver reach another ten-year high, while home sales registered on the MLS® remained muted.

Residential Sales Statistics

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,228 in May 2025, an 18.5% decrease from the 2,733 sales recorded in May 2024. This was also 30.5% below the 10-year seasonal average of 3,206.

“While there are emerging signs that sales activity might be turning a corner, sales in May were below the ten-year seasonal average, which suggests that some buyers are still sitting on the sidelines or are being especially selective,” said Andrew Lis, GVR’s director of economics and data analytics.

…

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If you're a homeowner or buyer in Canada, you may wonder whether your real estate agent can perform an official appraisal of a property. The short answer is that licensed real estate agents can provide market evaluations (like Comparative Market Analyses), but certified appraisals must be done by licensed appraisers. This article will explain the differences between certified appraisals and market evaluations, clear up common misconceptions about appraisals, and guide you on choosing the right professional for your needs.

Certified Appraisals vs. Market Evaluations

Certified Appraisal: A certified real estate appraisal is a formal, unbiased assessment of a property's market value performed by a qualified appraiser. In Canada, appraisals are…

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Canadian real GDP rose by 0.1 per cent in March, after declining by 0.2 per cent in February. Goods-producing sectors rose 0.2 per cent, while service-producing industries increased by 0.1 per cent.

Sectoral growth was led by:

  • Mining, quarrying, and oil and gas extraction (2.2 per cent)
  • Construction (0.5 per cent)
  • Retail trade (0.8 per cent)

Output for the offices of real-estate agents and brokers fell by 4.5 per cent month-over-month. Preliminary estimates suggest that real GDP by industry increased by 0.1 per cent in April.

Q1 2025 Performance

Real GDP increased by 0.5 per cent in the first quarter of 2025, registering an annualized growth rate of 2.2 per cent.

Household spending growth slowed to 0.3 per cent, leading to…

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