Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.3 per cent on a year-over-year basis in March, down from a 2.6 per cent increase in February. Month-over-month, on a seasonally adjusted basis, the CPI was unchanged in March.

The overall slowdown in headline CPI is largely driven by lower gasoline prices, with the CPI excluding gasoline rising by 2.5 per cent in March.

Shelter price growth continues to cool, as mortgage interest costs were up 7.9 per cent, marking the nineteenth consecutive month of deceleration. Similarly, rent was up 5.1 per cent year-over-year in March, down from 5.8 per cent in February.

In British Columbia, consumer prices rose 2.6 per cent year-over-year, down from 3.0 per cent in February.

The Bank…

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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 that pervasive uncertainty makes it unusually challenging to project GDP growth and inflation in Canada.

The Bank sees two potential scenarios for the Canadian economy:

  • High but limited tariffs that temporarily weaken growth
  • A protracted trade war that causes both a full recession and inflation to rise above 3 per cent

The Bank is already seeing signs of a slower economy due to the impact of uncertainty on consumer and business confidence. However, it expects tariff-driven supply chain disruptions will put upward pressure on prices later this year.

Perhaps most importantly, the Bank ended its…

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Date: April 14, 2025

Canadian housing starts fell by 3 per cent to 214,155 units in March at a seasonally adjusted annual rate (SAAR). Compared to the same month last year, starts were down 12 per cent.

Single-detached housing starts remained flat month-over-month at 49,667 units, while multi-family and other starts declined by 4 per cent to 164,484 units (SAAR).

British Columbia Highlights

In British Columbia, total housing starts rose by 5 per cent month-over-month to 31,145 units (SAAR), covering all regions across the province.

In urban areas with populations of 10,000 or more:

  • Single-detached starts increased by 3 per cent to 3,866 units.
  • Multi-family starts grew by 6 per cent to 25,302 units.

Overall, British…

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Tariffs, Economic Uncertainty Stall Spring Market in the Fraser Valley


Date: March 2025

SURREY, BC - March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years.

The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year.

Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.

“If not for the…

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Buying or selling a home in Vancouver can feel overwhelming. The real estate market in the city is highly competitive, and navigating it without expert guidance can be challenging. A Vancouver real estate agent brings knowledge, experience, and negotiation skills to ensure a smooth process while maximizing your investment. Whether you're a first-time buyer, upgrading, or selling a property, working with a professional can save you time and money.

Meet Adam Chahl – Your Trusted Vancouver Realtor

Adam Chahl is an award-winning Vancouver real estate agent with PLACE Real Estate Team - Oakwyn Realty. As a Medallion Club member (awarded to the top 10% of agents in Vancouver), Adam has helped countless clients navigate the real estate market with…

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March 12, 2025

The Bank of Canada lowered its overnight policy rate by 25 basis points this morning from 3 per cent to 2.75 per cent. In the statement accompanying the decision, the Bank noted that trade tensions will slow momentum from robust GDP growth observed in the second half of 2024, though how much the economy might slow is complicated by the uncertainty from a rapidly evolving policy landscape. On inflation, the Bank expects prices to rise slightly above their 2 per cent target as the GST tax break ends and forecasts that core inflation will remain above 2 per cent due to persistently elevated shelter costs.

Thanks to tariffs, the Bank of Canada is faced with heightened uncertainty and an economy that may be set to slow down rather than…

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A mortgage pre-approval is when a lender evaluates your financial obligation, credit rating, income, and assets to determine how much they can lend you. The lender will examine various factors, including your income stability, employment history, and existing debt, to assess your ability to repay the loan. It also provides an estimate of your interest rate and loan terms, helping you plan for your future mortgage payments. While pre-approval does not guarantee final loan approval, it is a crucial step in the real estate buying process. A pre-approval letter signals to sellers that you are a serious buyer and increases your negotiating power, especially in a hot market like West Vancouver.

Why You Need a Mortgage Pre-Approval in West Vancouver

With …

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The outlook for the Canadian economy in the coming months presents a picture of cautious optimism with high uncertainty. Economic indicators were expected to strengthen this year, driven by resilient consumer spending and a robust export sector. Housing activity was poised to accelerate this year as well.

However, when the newly inaugurated US president began to threaten Canada with 25% tariffs at the end of January, home sales slowed markedly. However, challenges such as global market volatility and inflationary pressures could temper this growth.

The Bank of Canada will maintain its current monetary policy stance, carefully balancing interest rates to manage inflation while supporting economic activity. The housing market remains a key area of…

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Buyers Gaining Upper Hand in Fraser Valley Real Estate Market

SURREY, BC - For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices.

The Fraser Valley Real Estate Board recorded 920 sales in February, up 13% from January, but 26% below sales recorded in February 2024.

Despite a 9% drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new listings remained 14% above the 10-year seasonal average, at 3,121. Overall inventory remains high, at 8,070 active listings, 45% above February 2024 and 55% above the 10-year seasonal average.

Market Conditions

The overall sales-to-active listings ratio continues to signal a buyer’s market in the…

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February Brings Balance to Metro Vancouver’s Housing Market

VANCOUVER, BC – March 4, 2025 – After a 46 per cent year-over-year increase of new listings in January, the number of newly listed properties on the MLS® in Metro Vancouver rose more moderately in February, helping keep market conditions in balanced territory.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,827 on Metro Vancouver’s Multiple Listing Service® (MLS®) in February 2025, an 11.7 per cent decrease from the 2,070 sales recorded in February 2024. This total was 28.9 per cent below the 10-year seasonal average (2,571).

“After the rush of new listings in January, home sales and new listings in February were closer to historical…

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