Abundant Listings and Stable Prices Not Enough to Drive April Sales in the Fraser Valley

SURREY, BC – Home buyers in the Fraser Valley are enjoying a selection of homes for sale not seen in more than a decade. The growing inventory of more than 10,000 active listings means, in many cases, that buyers have time, selection, and price negotiation on their side.

“There’s definitely a surge of activity in the market — buyers are out viewing homes and attending open houses,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “What’s noticeable in the current market is the level of choice. A buyer might see a home they like and then have an opportunity to tour five or ten more just like it, without feeling rushed to make an immediate…

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Spring Market Brings Abundance of Opportunity for Buyers

VANCOUVER, BC – May 2, 2025 – The slowdown in home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver* that began early this year continued in April, with sales down nearly 24 per cent year-over-year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,163 in April 2025, a 23.6 per cent decrease from the 2,831 sales recorded in April 2024. This was 28.2 per cent below the 10-year seasonal average (3,014).

“From a historical perspective, the slower sales we’re now seeing stand out as unusual, particularly against a backdrop of significantly improved borrowing conditions, which typically helps to boost sales,” said Andrew Lis,…

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Pent-up Demand Builds as Tariff Uncertainty Drives Buyers to the Sideline

BCREA 2025 Second Quarter Housing Forecast

Vancouver, BC – April 30, 2025

The British Columbia Real Estate Association (BCREA) released its 2025 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in BC are forecast to fall 1.1 per cent to 73,650 units this year. In 2026, MLS® residential sales are forecast to move slightly higher, rising 8.8 per cent to 80,150 units.

“Hopes for a return to normalcy in the BC housing market were swiftly dashed this year, upended by a pointless and mutually destructive trade war,” said BCREA Chief Economist Brendon Ogmundson. “While there is significant pent-up demand in the market,…

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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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