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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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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