The Bank of Canada held its overnight rate steady this morning at 2.25%. In the statement accompanying the decision, the Bank noted that the Canadian economy will likely continue to be challenged over the next year by trade volatility, but it expects underlying domestic demand to firm up in 2026.

On inflation, the Bank expects CPI inflation to remain close to its 2% target, though it still assesses underlying or core inflation at closer to 2.5%. Overall, the Bank judges the current level of its policy rate to be the right level to keep inflation at its target while helping the economy adjust to the current period of global trade upheaval.

The complexities of global trade tensions still mean some downward pressure on growth coupled with potential…

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Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.2 per cent on a year-over-year basis in October, down from a 2.4 per cent increase in September. On a seasonally adjusted monthly basis, the CPI was up 0.1 per cent in October, equivalent to a 1.5 per cent increase on an annualized basis. The CPI ex-gasoline increased by 2.6 per cent in October, matching the previous month. Additionally, shelter price growth fell by 0.1 points to 2.5 per cent in October, while food prices increased by 3.4 per cent year-over-year, 0.4 points lower than September. In BC, consumer prices rose 2.0 per cent year-over-year in October, up from 1.9 per cent in September. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out…

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The outlook for the Canadian housing market in late 2025 and into 2026 is marked by significant regional variation, with some provinces experiencing stability or gains, while others face price pressures and slowdowns driven by high inventories, affordability challenges, and shifting demand. Residential real estate is looking more alive, at least for the time being.

Despite an uncertain economic outlook, homebuying fundamentals have shown clear improvement in some areas.

Below is a breakdown by key regions:

Ontario (including Toronto)

Ontario, especially the Greater Toronto Area (GTA), remains weighed down by an abundance of listings, particularly in the condo sector. Toronto remains the epicentre for price fragility, thanks in part to a condo…

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Vancouver, BC – November 3, 2025. November is Radon Action Month, and the BC Real Estate Association (BCREA), BC Lung Foundation, and Real Estate Foundation of BC are teaming up to urge the public to test their homes for radon gas.


Despite a traditionally low level of public awareness, radon is a threat to homeowners and their families across British Columbia. Exposure to the colourless, odourless radioactive gas is the second-highest cause of lung cancer in Canadians after smoking, estimated to cause over 3,000 lung cancer deaths in the country each year.


Running for the second straight year, this joint public awareness campaign aims to direct British Columbians to a landing page, RadonKills.ca/BC, where they can find crucial information about…

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Canadian retail sales increased by 1.0 per cent to $70.4 billion in August compared to the previous month. Compared to the same time last year, retail sales were up by 4.9 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, were up 1.1 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales increased by 1.0 per cent in August.
           

Retail sales in British Columbia were largely unchanged in August from the previous month and rose by 6.9 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 0.8 per cent from the prior month and were 5.9 per cent above the level of August 2024.
           
Strong activity in August further demonstrates monthly…

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Canadian retail sales decreased by 0.8 per cent to $69.6 billion in July compared to the previous month. Compared to the same time last year, retail sales were up by 4.0 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, were down 1.2 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales decreased by 0.8 per cent in July.

Retail sales in British Columbia were down 0.8 per cent in July from the previous month and rose by 7.6 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 1.6 per cent from the prior month and were 8.9 per cent above the level of July 2024.

July's report contributes to a broader trend of sizeable monthly volatility in Canadian…

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Canadian housing starts decreased 16 per cent from the previous month, totalling 245,791 units in August at a seasonally adjusted annual rate (SAAR). Starts were up 15 per cent from the same month last year. Single-detached housing starts decreased by 2 per cent from last month to 55,271 units, while multi-family and other starts decreased by 20 per cent to 190,519 units (SAAR).

In British Columbia, starts fell by 19 per cent from last month to 46,274 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 7 per cent to 4,284 units, while multi-family starts fell by 22 per cent to 39,480 units month-over-month. Starts in the province were 34 per cent above the levels from…

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BCREA August 2025 Market Update

BCREA Reports August 2025 MLS® Market Activity

Vancouver, BC – September 11, 2025. The British Columbia Real Estate Association (BCREA) reports that 5,961 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in August 2025, up 0.5 per cent from August 2024.

The average MLS® residential price in BC in August 2025 was down 1.4 per cent at $926,335 compared to $939,376 in August 2024.

The total sales dollar volume was $5.5 billion, down 0.9 per cent from the same time the previous year. BC MLS® unit sales were 24.2 per cent lower than the ten-year August average.

“We continue to see significant regional disparity in the market, with the Lower Mainland lagging behind the rest of…

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Declining prices and high inventory strengthen buyer’s market heading into fall

SURREY, BC – Fraser Valley home sales fell more than 20 per cent in August, but buyers who did get into the market were able to take advantage of favourable conditions including abundant choice, softer prices and more time to make decisions.

Sales and Inventory

The Fraser Valley Real Estate Board recorded 931 sales on its Multiple Listing Service® (MLS®) in August, down 22% from July and down 13% year-over-year. August sales were 36% below the 10-year average.

The buyer’s market remains strong with inventory levels holding relatively stable, down 2% to 10,445 active listings. Newly listed homes declined 19% month-over-month to 2,793; up 0.5% year-over-year.

…

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Easing home prices help lift sales in August

VANCOUVER, B.C. – September 3, 2025

Easing prices brought more Metro Vancouver* homebuyers off the sidelines in August, with home sales on the MLS® up nearly three per cent from August last year.

Headline Numbers

  • Total residential sales (Aug 2025): 1,959 (+2.9% vs. 1,904 in Aug 2024)
  • Sales vs. 10-year seasonal average: 19.2% below (avg: 2,424)
  • New listings (Aug 2025): 4,225 (+2.8% vs. 4,109 in Aug 2024)
  • New listings vs. 10-year seasonal average: 1.3% above (avg: 4,172)
  • Total active listings: 16,242 (+17.6% vs. 13,812 in Aug 2024; 36.9% above 10-year seasonal avg of 11,862)

Economist Commentary

“The August sales figures add further confirmation that sales activity…

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