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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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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Canada Finished 2024 on a Stronger Note, But Tariffs Remain a Concern

This morning, Statistics Canada released the GDP data for the final quarter of last year, showing a stronger-than-expected increase in household final consumption spending, exports, and business investment. However, drawdowns of business inventories and higher imports tempered the overall growth.

Economic Growth in Q4

In Q4, the Canadian economy accelerated, with real GDP growth reaching a solid 2.6% annualized, which was well above consensus and the Bank of Canada's latest forecast. The growth was broad-based, led by a 5.6% increase in consumer spending. Consumer spending climbed 3.6% annually for three of the four quarters in 2024, supported by rate cuts in the second half of…

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Welcome to our deep dive into the 2025 Canadian housing market—a space where tariff tensions, shifting mortgage rules, and evolving market dynamics are converging to shape an exciting yet challenging future. If you’ve ever wondered how global trade disputes or government policy changes could affect your dream home purchase, then this article is for you. Grab a cup of coffee, sit back, and let’s explore what the coming year may hold for homeowners, buyers, and industry experts alike.

Overview of 2025 Housing Market Trends

The Canadian housing market has always been a rollercoaster ride, and as we approach 2025, the twists and turns seem more pronounced than ever. While we’re seeing a cautiously optimistic forecast with predictions of rising home…

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Canadian MLS® Systems posted a double-digit jump in new supply in January 2025 when compared to December 2024. At the same time, sales activity fell off at the end of the month, likely reflecting uncertainty over the potential for a trade war with the United States.

Although sales were down 3.3% month-over-month in January, this was mostly the result of sales trailing off in the last week of the month.

Meanwhile, the number of newly listed homes increased with an 11% jump compared to the final month of 2024. Aside from some of the wild swings seen during the pandemic, this was the largest seasonally adjusted monthly increase in new supply on record going back to the late 1980s.

“The standout trends to begin the year were a big jump in new supply…

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Fraser Valley’s Decade-High Inventory Could Open Doors for Buyers

SURREY, BC – Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the combination of stable prices and abundant selection presents potential opportunities for buyers to get back into the market.

Sales-to-Active Listings Ratio

The…

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Home Sellers Off to an Active Start in 2025

VANCOUVER, BC – February 4, 2025 – Homes newly listed on the MLS® in Metro Vancouver rose 46 per cent year-over-year in January, as sellers appear eager to enter the market to start the year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,552 in January 2025, an 8.8 per cent increase from the 1,427 sales recorded in January 2024. This was 11.3 per cent below the 10-year seasonal average (1,749).

“In the three months preceding January, we’ve watched buyer demand gain momentum, but it appears that momentum is now shifting toward sellers to start the new year,” Andrew Lis, GVR’s director of economics and data analytics said. “Even with this increase in new…

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The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 3.0%. The market had anticipated a nearly 98% chance of this 25 basis point reduction, and consensus aligned with this expectation.

The Federal Reserve is also set to announce its rate decision this afternoon, where it is widely expected to maintain the current policy rate. As a result, the gap between the US Federal Funds rate and the BoC’s overnight rate has widened to 150 basis points. This discrepancy is largely attributed to stronger growth and inflation in the US compared to Canada.

Consequently, Canada’s relatively low interest rates have negatively impacted the Canadian dollar, which has fallen to 69.2 cents against the US…

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