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Quick Snapshot of METRO VANCOUVER'S February 2026 MLS Sales

Thu, 05 Mar 2026 17:10:21 GMT

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is $1,100,300. This represents a 6.8 per cent decrease over February 2025 and a 0.1 per cent decrease compared to January 2026.

Specifically:

- The benchmark price for detached homes decreased 8.8% from Feb 2025 and decreased 0.8% from Jan 2026.

- The benchmark price for attached/townhouses decreased 5.6% from Feb 2025 and increased 0.3% from Jan 2026.

- The benchmark price for apartment/condos decreased 6.8% from Feb 2025 and increased 0.5% from Jan 2026.

*Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.

Metro Vancouver February 2026 MLS Sales

Wed, 04 Mar 2026 17:58:43 GMT

Metro Vancouver* home sales registered on the MLS® in February continued the recent trend of slower-than-average sales, seeing a ten per cent decline over the same period last year.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,648 in February 2026, a 9.8 per cent decrease from the 1,827 sales recorded in February 2025. This was 28.7 per cent below the 10-year seasonal average (2,310).

“With each passing data point, the pace of sales running well-below long-term averages are no longer a surprise – it’s become the new norm,” said Andrew Lis, GVR chief economist and vice-president data analytics. “A surprising finding this February, however, is that home sellers appear less eager to list their homes relative to last year with new listings down about seven percent, mostly driven by fewer listings in the apartment segment.”

There were 4,734 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2026. This represents a 6.4 per cent decrease compared to the 5,057 properties listed in February 2025. This was 7.1 per cent above the 10-year seasonal average (4,421).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 13,545, a 6.3 per cent increase compared to February 2025 (12,744). This is 37 per cent above the 10-year seasonal average (9,886). Across all detached, attached and apartment property types, the sales-to-active listings ratio for February 2026 is 12.6 per cent. By property type, the ratio is nine per cent for detached homes, 16.6 per cent for attached, and 14.1 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “With fewer sellers coming to market with their properties than last year, a pick-up in demand heading into the spring could result in a stagnation of standing inventory, which may support prices around current levels,” Lis said. “With sales slightly outpacing our 2026 forecast year-to-date, the spring market will be the litmus test of whether we continue along this new normal, or if we see any significant surprises.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,100,300. This represents a 6.8 per cent decrease over February 2025 and a 0.1 per cent decrease compared to January 2026.

Sales of detached homes in February 2026 reached 427, a 10.5 per cent decrease from the 477 detached sales recorded in February 2025. The benchmark price for a detached home is $1,835,900. This represents an 8.8 per cent decrease from February 2025 and a 0.8 per cent decrease compared to January 2026.

Sales of apartment homes reached 824 in February 2026, a 15.6 per cent decrease compared to the 976 sales in February 2025. The benchmark price of an apartment home is $708,200. This represents a 6.8 per cent decrease from February 2025 and a 0.5 per cent increase compared to January 2026.

Attached home sales in February 2026 totalled 387, a 7.8 per cent increase compared to the 359 sales in February 2025. The benchmark price of a townhouse is $1,046,100. This represents a 5.6 per cent decrease from February 2025 and a 0.3 per cent increase compared to January 2026.

Canadian Economic Growth (Real GDP Q4 2025) – March 2, 2026

Wed, 04 Mar 2026 01:16:48 GMT

Canadian real GDP rose by 0.2 per cent in December, after remaining mostly flat in November. Both goods-producing and service-producing sectors grew by 0.2 per cent, respectively. Sectoral growth was led by manufacturing (1.2 per cent), wholesale trade (1.7 per cent), and transportation/warehousing (0.7 per cent). The biggest detractor to growth came from mining, quarrying, and oil and gas extraction (-0.9 per cent). Output for the offices of real-estate agents and brokers fell by 3.6 per cent month-over-month. Preliminary estimates suggest that real GDP by industry was essentially unchanged in January.

Real GDP decreased by 0.2 per cent in the fourth quarter of 2025, registering an annualized growth rate of -0.6 per cent. Contraction was driven by declines in non-farm business inventories, led by the manufacturing and wholesale trade sectors. Overall trade picked up in the final quarter, with exports and imports increasing by 1.5 per cent and 0.3 per cent, respectively. Nonetheless, trade declined in 2025, with exports falling by 1.7 per cent and imports dropping by 0.4 per cent. Household spending rose 0.4 per cent in Q4, driven by higher expenditures on rent and financial services which offset an overall decline in goods-expenditures. Total capital investment increased 0.8 per cent, largely driven by government investments in weapons systems. Meanwhile, business investment declined by 0.1 per cent, as both residential and non-residential investment fell. However, business investment increased by 0.3 per cent overall in 2025. The household savings rate fell 0.8 points to 4.4 per cent, as disposable income growth was outpaced by nominal spending. Overall, the Canadian economy grew by 1.7 per cent in 2025.

Canada’s economic performance comes as an unwelcomed surprise, with annualized growth in the fourth quarter underperforming the Bank’s updated projection of flat (0 per cent) growth. Behind the headline number, increases in exports, household spending and government investment contributed to growth in the final quarter. However, 2025 marks the third consecutive year of government capital investment outpacing business capital expenditures with respect to GDP growth, suggesting ongoing weakness in private sector investment. A broad-based drawdown in trade for the year was the biggest detractor to growth in spite of further recovery during the final quarter, with export volumes to the US failing to recover from the sharp declines seen in the second quarter as tariffs began permeating into the economy. Taken together, while the headline number may spook readers, we expect the underlying resilience in the Canadian economy found in this report to keep the Bank of Canada on course for another rate hold in March.

Canadian Retail Sales (December 2025) – February 20, 2026

Sat, 21 Feb 2026 18:02:53 GMT

Canadian retail sales decreased by 0.4 per cent to $70 billion in December compared to the previous month. Retail sales were marginally lower compared to the same last year. Furthermore, core retail sales, which exclude gasoline and automobile items, decreased by 0.3 per cent in December. In volume terms, adjusted for rising prices, retail sales were unchanged in December. Overall, retail sales increased by 4.0 per cent in 2025 and rose by 2.3 per cent in volume terms.

Retail sales in British Columbia were down 0.5 per cent in December month-over-month and rose by 2.6 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 0.6 per cent from the prior month and were 3.6 per cent above the level of December 2024.

A weak December print rounds out a year of retail sales characterized by volatility and resilience. While rising 4.0 per cent year-over-year, retail activity in December was just 0.5 per cent above the level in January 2025 amidst monthly oscillations. Nonetheless, Canadian retail sales demonstrated resistance to weak economic conditions and broader uncertainty throughout the year. We expect the Bank of Canada to hold once again in March as they have signaled for a quiet year pertaining to monetary policy changes.

Canadian Inflation (January 2026)

Wed, 18 Feb 2026 21:12:52 GMT

Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.3 per cent on a year-over-year basis in January, following the 2.4 per cent increase in December. On a seasonally adjusted monthly basis, the CPI was up 0.1 per cent in January, equivalent to a 0.7 per cent increase on an annualized basis. The CPI ex-gasoline increased by 3.0 per cent in January, matching the previous month. Additionally, food prices increased by 7.3 per cent year-over-year, driven by base-year effects from last year’s GST holiday break on restaurant meals. In BC, consumer prices rose 2.0 per cent year-over-year in January, up 0.3 points from December. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, fell to 2.5 and 2.4 per cent year-over-year, respectively.

Sharper falls in gasoline prices partially counteracted upward pressure on many sub-aggregates that were affected by last year’s GST holiday, leaving headline inflation in a fairly similar place compared to December. However, 3-month annualized core inflation cooled further to about 1.2 per cent, levels not seen since the early pandemic era. Looking ahead, we expect the Bank of Canada to remain on hold in 2026, but next week’s GDP release should provide an early indication of the direction of the Canadian economy this year.

British Columbia MLS Sales in January 2026

Thu, 12 Feb 2026 16:18:57 GMT

The British Columbia Real Estate Association (BCREA) reports that 3,314 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in January 2026, down 22.9 per cent from January 2025. The average MLS® residential price in BC in January 2026 was down 1.9 per cent at $924,239 compared to $942,384 in January 2025.

Total MLS® residential sales dollar volume was $3.06 billion, down 24.4 per cent from the same time the previous year. BC MLS® unit sales were 30.97 per cent lower than the ten-year average for the month of January.

“British Columbia’s housing market kicked off 2026 with its second weakest January since 2016, with sales in almost every region falling short of historical averages,” said BCREA Chief Economist Brendon Ogmundson. “Despite a slow start, we expect stable rates and improved affordability conditions to release pent-up demand with sales picking up over the course of 2026.”

Active listings in January 2026 climbed to 32,626 units, a 5.6 per cent increase from the same month last year. Weak sales activity over the past several quarters have led to an accumulation of inventory, which should accommodate demand pressures in the short term. However, dampening sentiments concerning new home construction in BC leave the housing market vulnerable to long-term demand growth, a pattern which will be monitored over the next few years.

Canadian Employment (January 2026) – February 6, 2026

Sat, 07 Feb 2026 19:48:06 GMT

Canadian employment ticked down 0.1 per cent from the previous month, with the economy losing 25,000 jobs to 21.121 million in January. The employment rate also edged down 0.1 per cent to 60.8 per cent, while the unemployment rate fell by 0.3 points to 6.5 per cent. Average hourly wages rose 3.3 per cent year-over-year to $37.17 in January.

Employment in B.C. increased by 0.1 per cent to about 2.948 million, with the provincial economy gaining 3,500 jobs in January. Employment in Metro Vancouver increased by 0.3 per cent to 1.691 million. The unemployment rate in B.C. fell 0.2 points to 6.1 per cent in January. Meanwhile, Vancouver's unemployment rate fell by 0.3 points to 6.2 per cent in January.

The Canadian labour market opened 2026 with a slight downturn in employment, while seeing the unemployment rate reach its lowest levels since September 2024. Much of this decline is attributable to fewer people (-94,000) looking for work, yet only 0.3 per cent of the population not participating in the labour force are disgruntled job seekers (according to Stats Canada). Nonetheless, January’s employment data end a 4-month streak of job growth following a summer of sharp losses. After a year of volatility and resilience in the jobs market, the Bank of Canada will monitor labour market behaviours as global conditions continue to evolve.

Quick Snapshot of METRO VANCOUVER'S January 2026 MLS Sales

Fri, 06 Feb 2026 01:40:23 GMT

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is $1,101,900. This represents a 5.7 per cent decrease over January 2025 and a 1.2 per cent decrease compared to December 2025.

Specifically:

- The benchmark price for detached homes decreased 7.3% from Jan 2025 and decreased 1.5% from Dec 2025.

- The benchmark price for attached/townhouses decreased 5.4% from Jan 2025 and decreased 1.2% from Dec 2025.

- The benchmark price for apartment/condos decreased 5.9% from Jan 2025 and decreased 0.8% from Dec 2025.

Metro Vancouver January 2026 MLS Sales

Wed, 04 Feb 2026 22:54:33 GMT

Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver* were 28.5 per cent lower than last year, setting the year off to a quieter start.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,107 in January 2026, a 28.7 per cent decrease from the 1,552 sales recorded in January 2025. This was 30.9 per cent below the 10-year seasonal average (1,602).

There were 5,157 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2026. This represents a 7.3 per cent decrease compared to the 5,566 properties listed in January 2025. This was 19.4 per cent above the 10-year seasonal average (4,318). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,628, a 9.9 per cent increase compared to January 2025 (11,494). This is 38 per cent above the 10-year seasonal average (9,153).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2026 is 9.1 per cent. By property type, the ratio is 6.7 per cent for detached homes, 11.1 per cent for attached, and 10.3 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,101,900. This represents a 5.7 per cent decrease over January 2025 and a 1.2 per cent decrease compared to December 2025.

Sales of detached homes in January 2026 reached 300, a 21.1 per cent decrease from the 380 detached sales recorded in January 2025. The benchmark price for a detached home is $1,850,800. This represents a 7.3 per cent decrease from January 2025 and a 1.5 per cent decrease compared to December 2025.

Sales of apartment homes reached 554 in January 2026, a 34.5 per cent decrease compared to the 846 sales in January 2025. The benchmark price of an apartment home is $704,600. This represents a 5.9 per cent decrease from January 2025 and a 0.8 per cent decrease compared to December 2025.

Attached home sales in January 2026 totalled 246, a 23.4 per cent decrease compared to the 321 sales in January 2025. The benchmark price of a townhouse is $1,043,400. This represents a 5.4 per cent decrease from January 2025 and a 1.2 per cent decrease compared to December 2025.

Bank of Canada Interest Rate Announcement – January 28, 2026

Wed, 28 Jan 2026 22:10:30 GMT

The Bank of Canada held its overnight policy rate at 2.25 per cent this morning. In the statement accompanying the decision, the Bank noted that US trade restrictions and uncertainty continue to disrupt growth in Canada. The Bank projects modest near term economic growth as population growth slows and businesses adjust to a new trade environment. The Bank forecasts the Canadian economy will expand by 1.1 per cent this year and 1.5 per cent in 2027. On inflation, the Bank expects price growth to stay close to its 2 per cent target over the next 8 quarters, with trade-related cost pressures offset by slack in the economy.

Better than expected economic data through the end of 2025 shifted policy expectations toward a rate increase from the Bank of Canada in 2026 and put upward pressure on long-term yields and mortgage rates. However, there are enough headwinds from the global economy including a sharp decline in the US dollar and renewed tariff threats from the Trump administration that it is very unlikely the Bank will be tightening this year. Given an economy with weak growth and inflation at target, our stance remains that the Bank will be on hold throughout 2026, though mortgage rates may stay somewhat elevated relative to the overnight rate due to a higher risk premium being priced into medium and long-term yields.

Canadian Retail Sales (November 2025) – January 23, 2026

Tue, 27 Jan 2026 01:51:38 GMT

Canadian retail sales increased by 1.3 per cent to $70.4 billion in November compared to the previous month. Compared to the same time last year, retail sales were up by 3.1 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, increased by 1.6 per cent in November. In volume terms, adjusted for rising prices, retail sales rose by 1.1 per cent in November.

Retail sales in British Columbia were up 1.8 per cent in November month-over-month and rose by 4.2 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 0.4 per cent from the prior month and were 1.7 per cent above the level of November 2024.

A strong November print made up for two consecutive monthly declines in consumer spending, bringing Canadian retail sales to its highest point of the year. This recovery reflects broader volatility in monthly retail activity throughout 2025 while demonstrating ongoing resilience in consumption despite a relatively weak economy. Markets anticipate a rate hold from the Bank of Canada next week to kick off what is expected to be a quieter year concerning monetary policy adjustments.

Canadian Inflation (December 2025) – January 20, 2025

Thu, 22 Jan 2026 15:59:15 GMT

Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.4 per cent on a year-over-year basis in December, following the 2.2 per cent increase in November. On a seasonally adjusted monthly basis, the CPI was up 0.3 per cent in December, equivalent to a 3.7 per cent increase on an annualized basis. The CPI ex-gasoline increased by 3.0 per cent in December, up by 0.4 points from the previous month. Additionally, food prices increased by 6.2 per cent year-over-year, driven by base-year effects from last year’s tax break on restaurant food and continued acceleration in grocery prices. In BC, consumer prices rose 1.7 per cent year-over-year in December, down 0.5 points from November’s increase. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, fell to 2.5 and 2.7 per cent year-over-year, respectively.

Much of the upward pressure in December’s CPI print was a base-year effect from last year’s GST/HST holiday on several aggregates, counteracted by larger declines in gasoline prices. Nonetheless, 3-month annualized core inflation cooled to about 1.65 per cent, its lowest level since Spring of 2024, and falling below the midpoint of the Bank of Canada’s threshold. Looking ahead, we expect a rate-hold from the Bank next week as they further evaluate Canada’s economic growth in the final quarter relative to their most recent projections.

I have sold a property at 217 4799 Brentwood Drive in Burnaby

Thu, 15 Jan 2026 09:00:45 GMT

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Bank of Canada Interest Rate Announcement – December 10, 2025

Thu, 11 Dec 2025 17:48:50 GMT

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 to adjust to the current period of global trade upheaval.

The complexities of global trade tensions still mean at least some downward pressure on growth coupled with potential upward pressure on inflation. That puts the Bank in a difficult spot, and unsurprisingly, policymakers are acting with enhanced levels of caution. The Bank of Canada continues to signal that its policy measures cannot offset the economic impacts of trade wars and while concerns over a tariff driven acceleration of inflation are less of a concern now that Canada has dropped most of its retaliatory tariffs on US goods, the underlying trend in inflation remains above the Bank’s 2 per cent target. Recent revisions to Canadian GDP and a surprisingly strong 3rd quarter headline GDP number paint a somewhat rosier picture of the economy than underlying reality. That said, market sentiment has shifted in recent weeks with financial markets now anticipating a rate hike in 2026. That change in expectations has filtered into bond markets, prompting a dramatic rise in the 5-year bond yield to over 3%. Should that level hold, an already sluggish housing market may be contending with rising fixed mortgage rates in the new year.

Canadian Retail Sales (September 2025) – November 21, 2025

Sat, 22 Nov 2025 17:42:43 GMT

Canadian retail sales decreased by 0.7 per cent to $69.8 billion in September compared to the previous month. Compared to the same time last year, retail sales were up by 3.4 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, were relatively unchanged month-over-month. In volume terms, adjusted for rising prices, retail sales decreased by 0.8 per cent in September. Retail sales rose 0.2 per cent in the third quarter of the year.

Retail sales in British Columbia were down 0.9 per cent in September month-over-month and rose by 4.4 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 1.0 per cent from the prior month and were 2.6 per cent above the level of September 2024.

September’s report rounds out the weakest quarterly retail growth since Q2 of 2024, demonstrating some hesitancy in consumption amidst shaky economic conditions. However, further resilience in October’s jobs report and slight downticks in core inflation reaffirm the Bank’s guidance toward holding the overnight rate during its December meeting.

Canadian Housing Starts (October 2025) - November 18, 2025

Wed, 19 Nov 2025 18:20:12 GMT

Canadian housing starts decreased 17 per cent from the previous month, totaling 232,765 units in October at a seasonally adjusted annual rate (SAAR). Starts were down 5 per cent from the same month last year. Single-detached housing starts decreased by 8 per cent from last month, while multi-family and other starts decreased by 1 per cent.

In British Columbia, starts fell by 5 per cent from last month to 35,356 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 16 per cent to 4,671 units, while multi-family starts fell by 8 per cent to 27,809 units month-over-month (SAAR). Starts in the province were 19 per cent below the levels from October 2024. Year-to-date starts are up 111 per cent in Abbotsford and 23 per cent in Victoria, but down 52 per cent in Nanaimo, 38 per cent in Kelowna, and 4.5 per cent in Vancouver.

Canadian Inflation (October 2025) – November 17, 2025

Tue, 18 Nov 2025 18:12:13 GMT

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 volatile components, fell to 2.9 per cent and 2.7 per cent year-over-year, respectively.

Much of the downward pressure in October’s CPI print was driven by lower year-over-year gasoline prices, while several major aggregates also saw slower price growth compared to September. Nonetheless, 3-month annualized core inflation is 2.6 per cent, closely aligned with the Bank’s perceived level of underlying inflation. Looking ahead, the Bank appears poised for a rate hold during its final meeting of the year, barring a catastrophic third quarter performance by the Canadian economy in this month’s quarterly GDP print.

Canadian Employment (October 2025) – November 7, 2025

Sat, 08 Nov 2025 15:58:41 GMT

Canadian employment increased by 0.3 per cent from the previous month, with the economy gaining 67,000 jobs to 21.082 million in October. The employment rate rose by 0.2 points to 60.8 per cent, while the unemployment rate dropped by 0.2 points to 6.9 per cent. Average hourly wages rose 3.5 per cent year-over-year to $37.06 last month.

Employment in B.C. fell by 0.1 per cent to 2.942 million, with the provincial economy losing 2,900 jobs in October. Employment in Metro Vancouver decreased by 0.3 per cent to 1.687 million. The unemployment rate in B.C. increased by 0.2 points to 6.6 per cent in October. Meanwhile, Vancouver's unemployment rate rose by 0.1 points to 6.3 per cent in October.

October’s jobs report marks two consecutive months of employment growth that offset similar sized job losses during the summer. Job growth was driven by gains in private sector employment, the first private sector job growth since June. This report will likely further solidify the Bank of Canada's resolve that further rate cuts are not needed at this time, leading to a hold at their December meeting.

Quick Snapshot of METRO VANCOUVER'S October 2025 MLS Sales

Fri, 07 Nov 2025 18:00:06 GMT

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is $1,132,500. This represents a 3.4 per cent decrease over October 2024 and a 0.8 per cent decrease compared to September 2025.

Specifically:

- The benchmark price for detached homes decreased 4.3% from Oct 2024 and decreased 0.9% from Sep 2025.

- The benchmark price for attached/townhouses decreased 3.8% from Oct 2024 and decreased 0.3% from Sep 2025.

- The benchmark price for apartment/condos decreased 5.1% from Oct 2024 and decreased 1.4% from Sep 2025.

Metro Vancouver October 2025 MLS Sales

Thu, 06 Nov 2025 17:40:21 GMT

Home sales registered on the MLS® in Metro Vancouver* were 14 per cent lower than last October, as the trend of slower sales and building inventory creates favourable conditions for those looking to buy in the fall market:

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,255 in October 2025, a 14.3 per cent decrease from the 2,632 sales recorded in October 2024. This was 14.5 per cent below the 10-year seasonal average (2,638).

“October is typically the last month of the year where sales activity sees a seasonal uptick, but sales still fell short of last year’s figures and the ten-year seasonal average,” said Andrew Lis, GVR’s chief economist and vice-president of data analytics. “Even the fourth cut this year to the Bank of Canada’s policy rate this October wasn’t enough to entice more buyers back into the market.”

There were 5,438 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2025. This represents a 0.3 per cent decrease compared to the 5,452 properties listed in October 2024. This was 16.3 per cent above the 10-year seasonal average (4,676).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,393, a 13.2 per cent increase compared to October 2024 (14,477). This total is 35.9 per cent above the 10-year seasonal average (12,063).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for October 2025 is 14.2 per cent. By property type, the ratio is 11.3 per cent for detached homes, 17.6 per cent for attached, and 15.5 per cent for apartments.

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. “After peaking in June, inventory levels have edged lower, and prices have eased across all market segments as slower-than-usual sales activity meets the highest inventory levels seen in many years,” Lis said. “With no further reductions to the Bank of Canada’s policy rate expected in 2025, market conditions appear as favourable for buyers as they’ve been all year.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,132,500. This represents a 3.4 per cent decrease over October 2024 and a 0.8 per cent decrease compared to September 2025.

Sales of detached homes in October 2025 reached 693, a 4.3 per cent decrease from the 724 detached sales recorded in October 2024. The benchmark price for a detached home is $1,916,400. This represents a 4.3 per cent decrease from October 2024 and a 0.9 per cent decrease compared to September 2025.

Sales of apartment homes reached 1,071 in October 2025, a 23.1 per cent decrease compared to the 1,393 sales in October 2024. The benchmark price of an apartment home is $718,900. This represents a 5.1 per cent decrease from October 2024 and a 1.4 per cent decrease compared to September 2025.

Attached home sales in October 2025 totalled 477, a 4.8 per cent decrease compared to the 501 sales in October 2024. The benchmark price of a townhouse is $1,066,700. This represents a 3.8 per cent decrease from October 2024 and a 0.3 per cent decrease compared to September 2025.

Canadian Economic Growth (August 2025) – October 31, 2025

Sat, 01 Nov 2025 15:50:59 GMT

Canadian real GDP contracted by 0.3 per cent in August after increasing by 0.3 per cent in July. Goods-producing sectors fell by 0.6 per cent, while service-producing industries decreased by 0.1 per cent. Detractors from growth were led by utilities (-2.3 per cent), transportation and warehousing (-1.7 per cent), wholesale trade (-1.2 per cent), and mining, quarrying, and oil and gas extraction (-0.7 per cent). Conversely, retail trade was the largest driver of growth in August (0.9 per cent), while all goods-producing industries either remained flat or contracted from the previous month. Output for the offices of real-estate agents and brokers rose by 0.3 per cent month-over-month. Preliminary estimates suggest that real GDP by industry increased by 0.1 per cent in September, contributing to an advanced estimate of 0.4 per cent growth for the third quarter on an annualized basis.

The Canadian economy gave back much of the growth found in July, with August’s data contributing to a weak year of economic activity in Canada. Following two consecutive rate cuts, the Bank of Canada will be monitoring next month’s quarterly GDP results to assess how the economy is performing relative to their updated projections. If the economy underperformed in the third quarter, we could expect one final rate cut from the Bank before year-close to address underlying weaknesses in the economy and labour market.

Bank of Canada Interest Rate Announcement – October 29, 2025

Thu, 30 Oct 2025 18:00:09 GMT

The Bank of Canada lowered its overnight policy rate by 25 basis points this morning from 2.5% to 2.25%. In the statement accompanying the decision, the Bank noted that GDP growth is expected to be weak over the second half of 2025 but will get some support from rising consumer and government spending as well as residential investment. However, the labour market remains soft with unemployment at 7.1%. The Bank expects the Canadian economy to expand by 1.2% this year, followed by similarly weak growth of 1.1% in 2026 before picking up slightly to 1.7% in 2027. On inflation, the Bank sees underlying inflation steady at around 2.5% and expects inflationary pressures to ease in the months ahead. Finally, the Bank provides some forward-looking guidance on rates stating that if economic activity evolves broadly in line with its current projection, it judges the current policy rate of 2.25% as the right level to keep inflation at its 2% target.

The Bank appears reassured that it can focus on supporting the economy through rate-cuts without risking an acceleration of inflation, particularly given Canada is dropping most of its retaliatory tariffs. At 2.25%, the overnight rate is at the bottom threshold of what the Bank considers neutral for the economy, and adequate to keep inflation at 2%. Given a still uncertain outlook and the potential for further disruptions to trade policy, we anticipate the Bank may need to cut at least one more time over the next six months.

Canadian Retail Sales (August 2025) – October 23, 2025

Fri, 24 Oct 2025 20:48:30 GMT

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 volatility in Canadian retail sales, as six of nine subsectors rose following a weak previous month. Moreover, broader resilience in core retail sales signifies ongoing strength in household consumption despite weaker economic and labour market conditions. In spite of a slight uptick in headline and core inflation, financial markets are still expecting a second consecutive rate cut from the Bank of Canada next week.

Canadian Inflation (September 2025) – October 21, 2025

Thu, 23 Oct 2025 15:16:42 GMT

Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.4 per cent on a year-over-year basis in September, up from a 1.9 per cent increase in August. On a seasonally adjusted monthly basis, the CPI was up 0.4 per cent in September. The CPI ex-gasoline increased by 2.6 per cent in September after rising 2.4 per cent in August. Additionally, shelter price growth remained at 2.6 per cent in September, while food price growth rose by 3.8 per cent year-over-year, 0.4 points higher than the previous month. In BC, consumer prices rose 1.9 per cent year-over-year in September, up from 1.8 per cent in August. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, were 3.2 per cent and 3.1 per cent year-over-year, respectively.

September’s CPI report certainly complicates the Bank of Canada’s upcoming decision, with headline and core inflation ticking upward. While base-year effects explain some of the upward price pressures, acceleration in certain aggregates such as food prices will certainly concern the Bank. Nonetheless, the Bank has emphasized that underlying inflation—while higher than preferred—remains stable at around 2.5 per cent, which, coupled with weak economic conditions, suggests a rate cut is on the horizon before year-close.

Canadian Housing Starts (September 2025)

Thu, 23 Oct 2025 01:11:11 GMT

Canadian housing starts increased 14 per cent from the previous month, totaling 279,234 units in September at a seasonally adjusted annual rate (SAAR). Starts were up 25 per cent from the same month last year. Single-detached housing starts increased by 1 per cent from last month to 55,408 units, while multi-family and other starts increased by 18 per cent to 223,825 units (SAAR).

In British Columbia, starts fell by 20 per cent from last month to 37,305 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts decreased by 5 per cent to 3,965 units, while multi-family starts fell by 23 per cent to 30,197 units month-over-month. Starts in the province were 15 per cent below the levels from September 2024. Year-to-date starts are up 101 per cent in Abbotsford and 23 per cent in Victoria, but down 55 per cent in Nanaimo, 42 per cent in Kelowna, and 0.6 per cent in Vancouver.

British Columbia MLS Sales in September 2025

Sun, 19 Oct 2025 16:32:00 GMT

Total MLS® residential sales dollar volume was $5.5 billion, up 4.8 per cent from the same time the previous year. BC MLS® unit sales were 21.4 per cent lower than the ten-year average for the month of September.

“Home sales in the province are gaining momentum following a slow first half of 2025,” said BCREA Chief Economist Brendon Ogmundson. “We anticipate sales will finish the year strong, aided by lower interest rates helping to unleash pent-up demand.”

Year-to-date, BC residential sales dollar volume is down 7.3 per cent to $51.8 billion, compared with the same period in 2024. Residential unit sales are down 4.2 per cent year-over-year at 54,594 units, while the average MLS® residential price is also down 3.3 per cent to $949,203.

Canadian Employment (September 2025) – October 10, 2025

Sun, 12 Oct 2025 21:19:32 GMT

Canadian employment increased by 0.3 per cent from the previous month, gaining 60,000 jobs to 21.015 million in September. The employment rate rose by 0.1 points to 60.6 per cent, while the unemployment rate remained unchanged at 7.1 per cent. Average hourly wages rose 3.3 per cent year-over-year to $36.78 last month.

Employment in B.C. rose by 0.3 per cent to 2.944 million, gaining 7,800 jobs in September. Employment in Metro Vancouver increased by 0.8 per cent to 1.691 million. The unemployment rate in B.C. increased by 0.2 points to 6.4 per cent in September. Meanwhile, Vancouver's unemployment rate fell by 0.2 points to 6.2 per cent in the ninth month of the year.

While September’s jobs report marks a moderate rebound, the Canadian labour market remains weak following a loss of over 100,000 jobs from previous months. Overall, net employment growth has been largely flat since January, and the national unemployment rate remains at its highest level since May 2016 (excluding pandemic years). Therefore, this report, albeit positive, is unlikely to sway the Bank of Canada in its decision during its October meeting. Nonetheless, financial markets still favour one more rate cut this year, as the Bank seeks to address underlying economic weakness as the inflationary risks of tariffs subside.

Quick Snapshot of METRO VANCOUVER'S September 2025 MLS Sales

Tue, 07 Oct 2025 12:49:19 GMT

Specifically:

- The benchmark price for detached homes decreased 4.3% from Oct 2024 and decreased 0.9% from Sep 2025.

- The benchmark price for attached/townhouses decreased 3.8% from Oct 2024 and decreased 0.3% from Sep 2025.

- The benchmark price for apartment/condos decreased 5.1 % from Oct 2024 and decreased 1.4% from Sep 2025.

Metro Vancouver September 2025 MLS Sales

Mon, 06 Oct 2025 09:43:42 GMT

Another Bank of Canada rate cut and easing prices helped home sales registered on the MLS® in Metro Vancouver* edge higher relative to September last year. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,875 in September 2025, a 1.2 per cent increase from the 1,852 sales recorded in September 2024. This was 20.1 per cent below the 10-year seasonal average (2,348). 

“With another cut to Bank of Canada’s policy rate behind us, and markets pricing in at least one more cut by the end of the year, Metro Vancouver homebuyers have reason to be optimistic about the fall market,” said Andrew Lis, GVR’s director of economics and data analytics.  “Easing prices, near-record high inventory levels, and increasingly favourable borrowing costs are offering those looking to purchase a home this fall with plenty of opportunity.” 

There were 6,527 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in September 2025. This represents a 6.2 per cent increase compared to the 6,144 properties listed in September 2024. This was 20.1 per cent above the 10-year seasonal average (5,434). 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,079, a 14.4 per cent increase compared to September 2024 (14,932). This is 36.1 per cent above the 10-year seasonal average (12,553). 

Across all detached, attached and apartment property types, the sales-to-active listings ratio for September 2025 is 11.3 per cent. By property type, the ratio is 8.5 per cent for detached homes, 12.7 per cent for attached, and 13.3 per cent for apartments. 

“The past few years have been quite challenging for the market, beginning with 2022’s rapid increase in interest rates, major political and policy shifts in subsequent years, and recent trade tensions with the USA weighing on the market,” Lis said. “With the acute impacts of these events now fading, we expect market activity to continue stabilizing to end the year, barring any unforeseeable major disruptions.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,142,100. This represents a 3.2 per cent decrease over September 2024 and a 0.7 per cent decrease compared to August 2025. 

Sales of detached homes in September 2025 reached 552, a 7 per cent increase from the 516 detached sales recorded in September 2024. The benchmark price for a detached home is $1,933,100. This represents a 4.4 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025. 

Sales of apartment homes reached 954 in September 2025, a 1.5 per cent increase compared to the 940 sales in September 2024. The benchmark price of an apartment home is $728,800. This represents a 4.4 per cent decrease from September 2024 and a 0.8 per cent decrease compared to August 2025. 

Attached home sales in September 2025 totalled 356, a 5.8 per cent decrease compared to the 378 sales in September 2024. The benchmark price of a townhouse is $1,069,800. This represents a 2.7 per cent decrease from September 2024 and a 0.9 per cent decrease compared to August 2025.

Canadian Economic Growth (July 2025) – September 27, 2025

Mon, 29 Sep 2025 15:38:44 GMT

Canadian real GDP rose by 0.2 per cent in July, after declining by 0.1 per cent in June. Goods-producing sectors rose by 0.6 per cent, while service-producing industries increased by 0.1 per cent. Sectoral growth was led by mining, quarrying, and oil and gas extraction (1.4 per cent), manufacturing (0.7 per cent), and wholesale trade (0.6 per cent). The biggest detractor from growth was from retail trade (-1.0 per cent), while all goods-producing industries grew from the previous month. Output for the offices of real-estate agents and brokers rose by 3.6 per cent month-over-month. Preliminary estimates suggest that real GDP by industry was largely unchanged in August.

The Canadian economy returned to growth in July following several consecutive months of contraction. However, July’s upswing appears temporary, as August’s preliminary estimate suggests growth was flat to close out the summer. We expect the Bank of Canada to cut once more this year to address underlying weaknesses in the Canadian economy and labour market. With that being said, central bankers and economists will now focus on October’s employment and CPI reports —the last two data points for the Bank to consider before its next meeting.

Canadian Housing Starts (August 2025) – September 19, 2025

Mon, 22 Sep 2025 23:11:24 GMT

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 August 2024. Year-to-date starts are up 150 per cent in Abbotsford and 31 per cent in Victoria, but down 56 per cent in Nanaimo, 37 per cent in Kelowna, and 0.6 per cent in Vancouver.

Bank of Canada Interest Rate Announcement – September 17, 2025

Sat, 20 Sep 2025 12:42:14 GMT

The Bank of Canada lowered its overnight policy rate to 2.5 per cent this morning. In its statement, the Bank noted that US tariffs sharply impacted Canadian export levels while also hindering business investment. In spite of resilient consumer spending, GDP declined by about 1.5% in the second quarter, aligning with the Bank's most recent projection. In addition, the Canadian labour market has cooled further through the summer, with the national unemployment rate reaching 7.1 per cent, its highest level since May 2016, excluding the pandemic. Regarding inflation, the Bank noted that the upward pressure on month-over-month core inflation growth is dissipating, which, coupled with the de-escalatory behaviour from our government, reduces the overall inflationary risks associated with trade policy moving forward.

Taken together, the Bank of Canada signalled a tangible shift in policy rate considerations, emphasizing weak economic growth in conjunction with stabilized inflation as a backdrop to lower rates. However, the Bank expressed continued caution and vigilance regarding its outlook due to the lingering uncertainties associated with US tariffs and their risks to Canada's export potential. Financial markets are now shifting attention towards what the Bank will do before the end of the year, with many economists believing that tempered inflation and prolonged weakness in the economy will result in an additional 25-point cut, bringing the policy rate to 2.25% by year-end. These expectations are reflected in 5-year bond yields, which have stabilized around 2.71%, down about 0.4 points from their summer peak. This broader trend will place downward pressure on 5-year fixed mortgage rates, which we hope stimulates stronger sales activity to close out a weak year in the housing market overall.

Canadian Inflation (August 2025) – September 16, 2025

Wed, 17 Sep 2025 16:56:55 GMT

Canadian prices, as measured by the Consumer Price Index (CPI), rose 1.9 per cent on a year-over-year basis in August, up from a 1.7 per cent increase in July. Month-over-month, on a seasonally adjusted basis, the CPI was up 0.2 per cent in August. The CPI ex-gasoline increased by 2.4 per cent in August after holding at 2.5 per cent during each of the previous three months. Additionally, shelter price growth was 2.6 per cent in August, the smallest year-over-year increase since March 2021, and down from 3.0 per cent in July. Food price growth registered at 3.4 per cent year-over-year, marginally higher than the previous month. In BC, consumer prices rose 1.8 per cent year-over-year in August, up from 1.7 per cent in July. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, remained at 3.1 per cent and 3.0 per cent year-over-year, respectively.

While the Bank of Canada's core measures of inflation have remained at the upper end—and even outside of—their target range, 3-month annualized core inflation has stabilized around 2.5 per cent. Coupled with weaker-than-expected second-quarter growth, this report is unlikely to sway the Bank of Canada away from a likely rate cut tomorrow in hopes of stimulating the economy heading into the final quarter of the year.

Canadian Employment (August 2025) – September 5, 2025

Sat, 06 Sep 2025 16:47:31 GMT

Canadian employment decreased by 0.3 per cent from the previous month, losing 66,000 jobs to 20.955 million in August. The employment rate fell by 0.2 points to 60.5 per cent, while the unemployment rate rose 0.2 points to 7.1 per cent. Average hourly wages rose 3.2 per cent year-over-year to $36.31 last month, while total hours worked were up 0.9 per cent compared to August of the previous year.

Employment in B.C. fell by 0.5 per cent to 2.936 million, losing 15,700 jobs in August. Employment in Metro Vancouver fell by 1.1 per cent to 1.679 million. The unemployment rate in B.C. increased by 0.3 points to 6.2 per cent in August. Meanwhile, Vancouver's unemployment rate also rose by 0.3 points to 6.4 per cent in the eighth month of the year.

August's jobs report demonstrates a further cooling of the Canadian labour market, with the unemployment rate reaching its highest level in four years. Job losses were concentrated in part-time work as seasonal positions wind down, while full-time employment was largely unchanged following a weak July. Moreover, core-aged employment for men and women reached its lowest levels in over 7 years each. Overall, the Canadian labour market in 2025 can be characterized by negative employment growth and steady upticks in unemployment as broader uncertainties continue to loom over Canadian households and businesses. This report favours a rate cut from the Bank of Canada in a couple of weeks as it looks to reignite the economy moving into the fall.

Quick Snapshot of METRO VANCOUVER'S August 2025 MLS Sales

Fri, 05 Sep 2025 01:03:57 GMT

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is $1,150,400. This represents a 3.8 per cent decrease over August 2024 and a 1.3 per cent decrease compared to July 2025.

Specifically:

- The benchmark price for detached homes decreased 4.8% from August 2024 and decreased 1.2% from July 2025.

- The benchmark price for attached/townhouses decreased 3.5% from August 2024 and decreased 1.8% from July 2025.

- The benchmark price for apartment/condos decreased 4.4% from August 2024 and decreased 1.3% from July 2025.

Metro Vancouver August 2025 MLS Sales

Wed, 03 Sep 2025 17:55:09 GMT

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:

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,959 in August 2025, a 2.9 per cent increase from the 1,904 sales recorded in August 2024. This was 19.2 per cent below the 10-year seasonal average (2,424).

“The August sales figures add further confirmation that sales activity across Metro Vancouver appears to be recovering, albeit somewhat slowly, from the challenging first half of the year,” said Andrew Lis, GVR’s director of economics and data analytics. “Sales in the detached and attached segments are up over ten per cent from last August, which suggests buyers shopping in more expensive price points are re-entering the market in a meaningful way.”

There were 4,225 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2025. This represents a 2.8 per cent increase compared to the 4,109 properties listed in August 2024. This was 1.3 per cent above the 10-year seasonal average (4,172). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,242, a 17.6 per cent increase compared to August 2024 (13,812). This is 36.9 per cent above the 10-year seasonal average (11,862).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for August 2025 is 12.4 per cent. By property type, the ratio is 9.3 per cent for detached homes, 15.8 per cent for attached, and 14 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“Prices have eased around two per cent since the start of the year and are down about one per cent month over month in August, signalling that sellers have been willing to lower price expectations,” Lis said. “As sellers’ and buyers’ expectations have become more aligned, transaction volume has picked up. Newly listed properties remain in line with their ten-year seasonal average however, which when paired with increasing sales activity, is likely to diminish the available inventory. This also means the window of plentiful opportunity for buyers may soon begin closing if these trends continue.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,150,400. This represents a 3.8 per cent decrease over August 2024 and a 1.3 per cent decrease compared to July 2025.

Sales of detached homes in August 2025 reached 575, a 13 per cent increase from the 509 detached sales recorded in August 2024. The benchmark price for a detached home is $1,950,300. This represents a 4.8 per cent decrease from August 2024 and a 1.2 per cent decrease compared to July 2025.

Attached home sales in August 2025 totalled 409, a 10.5 per cent increase compared to the 370 sales in August 2024. The benchmark price of a townhouse is $1,079,600. This represents a 3.5 per cent decrease from August 2024 and a 1.8 per cent decrease compared to July 2025.

Sales of apartment homes reached 956 in August 2025, a 5.5 per cent decrease compared to the 1,012 sales in August 2024. The benchmark price of an apartment home is $734,400. This represents a 4.4 per cent decrease from August 2024 and a 1.3 per cent decrease compared to July 2025.

Canadian Economic Growth (Real GDP Q2 2025) – August 2025

Sun, 31 Aug 2025 00:58:24 GMT

Canadian real GDP fell by 0.1 per cent in June, after declining by 0.1 per cent in May. Goods-producing sectors fell 0.5 per cent, while service-producing industries increased by 0.1 per cent. Sectoral growth was led by retail trade (1.4 per cent), wholesale trade (0.5 per cent), and construction (0.3 per cent). The biggest detractors from growth were from manufacturing (-1.5 per cent) and utilities (-1.2 per cent). Output for the offices of real-estate agents and brokers rose by 3.1 per cent month-over-month. Preliminary estimates suggest that real GDP by industry increased by 0.1 per cent in July.

Real GDP declined by 0.4 per cent in the second quarter of 2025, registering an annualized growth rate of -1.6 per cent. Contraction was driven by a broad-based slowdown in trade, with exports and imports falling by 7.5 per cent and 1.3 per cent, respectively. Business investment fell by 0.6 per cent, driven by slower investment in machinery and equipment (-9.4 per cent). Meanwhile, slightly higher investment in residential structures (1.5 per cent) was offset by its non-residential counterpart (-3.3 per cent). Household spending rose 1.1 per cent in the second quarter, while the household savings rate fell a full point to 5.0 per cent, driven by weakening income growth. On a per capita basis, GDP fell 0.4 per cent in Q2 after increasing by 0.4 per cent in the previous quarter.

As many feared, the consequences of tariffs on the Canadian economy are reflected in this print, with Q2 GDP growth falling below the Bank of Canada's most recent projection. Contraction is largely attributable to far lower trade, offsetting the export growth which propelled the economy forward during Q1 as companies tried to get ahead of tariffs. Moreover, the associated uncertainty of volatile trade policy hampered investment from Canadian businesses, creating a further drag on growth. This report could influence the Bank of Canada towards a rate cut during their next meeting in hopes of re-igniting the economy moving into the fall. Moving forward, the Bank of Canada will closely watch next month's inflation data for signs that core inflation is moderating to its 2% target, such that it can more confidently commit to a 25-point cut in September.

Canadian Retail Sales (June 2025) – August 23, 2025

Sat, 23 Aug 2025 16:54:29 GMT

Canadian retail sales increased by 1.5 per cent to $70.2 billion in June compared to the previous month. Compared to the same time last year, retail sales were up by 6.6 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, were up 1.9 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales increased by 1.5 per cent in June. Quarterly retail sales rose 0.4 per cent in the second quarter.

Retail sales in British Columbia were up 1.5 per cent in May from the previous month and rose by 10.2 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 2.0 per cent from the prior month and were 12.4 per cent above the level of June 2024.

June's report represents a rebound in retail activity from the previous month, with sales rising to their highest level this year. However, over 25 per cent of business respondents reported negative tariff impacts through changes in final prices and demand. While this report favours another rate hold, markets remain uncertain about the Bank of Canada's decision in September as core inflation stabilizes near its upper limit and economic growth remains weak.

Canadian Inflation (July 2025) – August 19, 2025

Thu, 21 Aug 2025 00:37:32 GMT

Canadian prices, as measured by the Consumer Price Index (CPI), rose 1.7 per cent on a year-over-year basis in July, down from a 1.9 per cent increase in June. Month-over-month, on a seasonally adjusted basis, the CPI was up 0.1 per cent in July. Downward pressure on headline inflation was driven by a sharper fall in gasoline prices year-over-year compared to June. The CPI ex-gasoline has held at 2.5 per cent over the past three months. Additionally, shelter price growth rose for the first time since February 2024, with prices growing by 3.0 per cent in July, slightly up from 2.9 per cent in June. Food purchased in grocery stores rose at a faster pace of 3.4 per cent year-over-year compared to 2.8 per cent the previous month. In BC, consumer prices rose 1.7 per cent year-over-year in July, down from 2.1 per cent in June. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, are 3.1 per cent and 3.0 per cent year-over-year, respectively.

July's CPI report continues to show a divergence between headline and core inflation, largely due to monthly fluctuations in energy prices. The Bank of Canada's core measures of inflation have remained at the upper end—and even outside of—their target range for the past three months as tariffs continue passing through the economy. With 3-month annualized core inflation dropping a full point to 2.4 per cent, this report slightly favours a rate cut from the Bank of Canada in September, as the downside risks to growth remain strong from ongoing trade uncertainties.

Copyright British Columbia Real Estate Association. Reprinted with permission.

Canadian Housing Starts (July 2025) – August 18, 2025

Tue, 19 Aug 2025 19:59:42 GMT

Canadian housing starts increased 4 per cent from the previous month, totalling 294,085 units in July at a seasonally adjusted annual rate (SAAR). Starts were up 7 per cent from the same month last year. Single-detached housing starts decreased by 1 per cent from last month to 55,740 units, while multi-family and other starts increased by 5 per cent to 238,342 units (SAAR).

In British Columbia, starts fell by 15 per cent from last month to 56,918 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 1 per cent to 3,953 units, while multi-family starts fell by 17 per cent to 50,394 units month-over-month. Starts in the province were 16 per cent above the levels from July 2024. Year-to-date starts are up 147 per cent in Abbotsford and 29 per cent in Victoria, but down 71 per cent in Nanaimo, 36 per cent in Kelowna, and 5 per cent in Vancouver.

Copyright British Columbia Real Estate Association. Reprinted with permission.

British Columbia MLS Sales in July 2025

Thu, 14 Aug 2025 16:54:20 GMT

The British Columbia Real Estate Association (BCREA) reports that 7,056 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in July 2025, up 2.2 per cent from July 2024. The average MLS® residential price in BC in July 2025 was down 2.1 per cent at $942,686 compared to $963,047 in July 2024.

The total sales dollar volume was $6.7 billion, virtually unchanged from the same time the previous year. BC MLS® unit sales were 16 per cent lower than the ten-year July average.

“Housing markets across BC continue to build momentum through the summer, with all regions apart from the Lower Mainland boasting higher sales activity from the previous year,” said BCREA Chief Economist Brendon Ogmundson. “With a stable trajectory for monetary policy, we expect sales in the province will continue to improve as tariff uncertainties fade.”

Year-to-date, BC residential sales dollar volume is down 9.4 per cent to $40.8 billion, compared with the same period in 2024. Residential unit sales are down 5.7 per cent year-over-year at 42,895 units, while the average MLS® residential price is also down 3.9 per cent to $952,323.

Copyright British Columbia Real Estate Association. Reprinted with permission.

Canadian Employment (July 2025) – August 8, 2025

Sat, 09 Aug 2025 17:48:47 GMT

Canadian employment decreased by 0.2 per cent from the previous month, losing 41,000 jobs to 21.020 million in July. The employment rate fell by 0.2 points to 60.7 per cent, while the unemployment rate remained unchanged at 6.9 per cent. Average hourly wages rose 3.3 per cent year-over-year to $36.16 last month, while total hours worked were up 0.3 per cent compared to July of the previous year.

Employment in B.C. fell by 0.5 per cent to 2.953 million, losing 16,300 jobs in July. Employment in Metro Vancouver fell by 2.2 per cent to 1.697 million in July. The unemployment rate in B.C. increased by 0.3 points to 5.9 per cent in July. Meanwhile, Vancouver's unemployment rate also rose by 0.3 points to 6.1 per cent in the seventh month of the year.

July's jobs report echoes many of the same themes of the first half of the year—namely, weak labour force growth. Once again, job losses were concentrated in both full-time work (-51,000) and the private sector (-39,000), signifying that employment growth is largely driven by part-time and seasonal positions. Moreover, youth employment continues to flounder, with the unemployment rate for this demographic reaching its highest level (14.6 per cent) since September 2010 (excluding pandemic years). Overall, the Canadian labour market in 2025 has remained cool, with minimal employment growth (+0.1 per cent) since January and an unemployment rate near its highest level since the pandemic. After another hold at its previous meeting, this report favours a rate cut from the Bank of Canada in September, as they look to stimulate a struggling economy and labour market while holding inflation steady.

Copyright British Columbia Real Estate Association. Reprinted with permission.

Quick Snapshot of METRO VANCOUVER'S July 2025 MLS Sales

Fri, 08 Aug 2025 16:21:13 GMT

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver* is $1,165,300. This represents a 2.7 per cent decrease over July 2024 and a 0.7 per cent decrease compared to May 2025.

Specifically:

- The benchmark price for detached homes decreased 3.6% from July 2024 and decreased 1.0% from June 2025.

- The benchmark price for townhouses/attached decreased 2.3% from July 2024 and decreased 0.4% from June 2025.

- The benchmark price for apartment/condos decreased 3.2% from July 2024 and decreased 0.6% from June 2025.

Metro Vancouver July 2025 MLS Sales

Wed, 06 Aug 2025 18:02:05 GMT

Home sales registered on the MLS® across Metro Vancouver* in July extended the early signs of recovery that emerged in June, now down just two per cent from July of last year:

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,286 in July 2025, a two per cent decrease from the 2,333 sales recorded in July 2024. This was 13.9 per cent below the 10-year seasonal average (2,656).

“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA.”

There were 5,642 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2025. This represents a 0.8 per cent increase compared to the 5,597 properties listed in July 2024. This was 12.4 per cent above the 10-year seasonal average (5,018). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,168, a 19.8 per cent increase compared to July 2024 (14,326). This is 40.2 per cent above the 10-year seasonal average (12,249).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2025 is 13.8 per cent. By property type, the ratio is 10.2 per cent for detached homes, 16.7 per cent for attached, and 15.9 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“With the rate of homes coming to market holding steady in July, the inventory of homes available for sale on the MLS® has stabilized at around 17,000. This level of inventory provides buyers plenty of selection to choose from,” Lis said. “Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways over the short term as supply and demand remain relatively balanced. However, if the recovery in sales activity accelerates, these favorable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,165,300. This represents a 2.7 per cent decrease over July 2024 and a 0.7 per cent decrease compared to June 2025.

Sales of detached homes in July 2025 reached 660, a 4.1 per cent decrease from the 688 detached sales recorded in July 2024. The benchmark price for a detached home is $1,974,400. This represents a 3.6 per cent decrease from July 2024 and a 1 per cent decrease compared to June 2025.

Sales of apartment homes reached 1,158 in July 2025, a 2.9 per cent decrease compared to the 1,192 sales in July 2024. The benchmark price of an apartment home is $743,700. This represents a 3.2 per cent decrease from July 2024 and a 0.6 per cent decrease compared to June 2025.

Attached home sales in July 2025 totalled 459, a five per cent increase compared to the 437 sales in July 2024. The benchmark price of a townhouse is $1,099,200. This represents a 2.3 per cent decrease from July 2024 and a 0.4 per cent decrease compared to June 2025. 

Just SOLD: 14073 113 Ave, Surrey, BC

Mon, 04 Aug 2025 16:19:31 GMT

I have sold a property at 14073 113 Avenue in Surrey

Sat, 02 Aug 2025 09:00:07 GMT

I have sold a property at 14073 113 Avenue in Surrey.

See details here

2730 sq ft 2-level bungalow w/walk-out basement suite on 8354 sq ft lot with R3 zoning! 2 bed/1.5 baths upstairs and 2 bed+den/1 bath below w/private entry. On a quiet, no-through street. Large, flat north-facing rear yard. Surrey Traditional School & James Ardiel Elementary school just 2-3 blocks away. Bus stop 1 block away. Parking for 7 vehicles on property. Close to Guildford Mall, Central City, King George Boulevard, Hwy 17 & Hwy 1. Quick completion possible to get into this evolving neighbourhood.

Canadian Economic Growth (May 2025) – July 31, 2025

Fri, 01 Aug 2025 16:23:32 GMT

Canadian real GDP decreased by 0.1 per cent in May, following a 0.1 per cent decrease in April. Service-producing industries remained unchanged, while goods-producing industries edged down by 0.1 per cent. Thirteen out of twenty major industries contracted from the previous month, led by broad-based decreases in retail trade (-1.2 per cent), mining, quarrying, and oil and gas (-1.0 per cent) and public administration (-0.2 per cent). Conversely, both the manufacturing (0.7 per cent) and transportation/warehousing (0.6 per cent) sectors grew following contractions in April. Finally, GDP for real estate offices and agents was up 3.5 per cent month-over-month. Preliminary estimates suggest that real GDP increased by 0.1 per cent in June while remaining unchanged for the second quarter of 2025.

May's GDP data points to continued weakness through the second quarter, as the impact of tariffs continues to filter through the Canadian economy. Following another rate hold yesterday, the Bank of Canada reiterated its concern about propelling core inflation beyond its already elevated level through monetary policy. Therefore, even in the face of ongoing negative growth, the Bank will likely need to see trimmed and median inflation moderate toward its midpoint before cutting the overnight rate. With that being said, attention now shifts towards August's CPI and GDP prints, which will illustrate how the Canadian economy performed in the second quarter relative to the Bank's most recent projections—a comparison that will heavily influence its next policy decision in mid-September.

Copyright British Columbia Real Estate Association. Reprinted with permission.

Bank of Canada Interest Rate Announcement – July 30, 2025

Wed, 30 Jul 2025 16:35:50 GMT

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 US tariffs are disrupting trade overall, but the economy is showing some resilience. That said, GDP likely declined by 1.5% in the second quarter as the tariff driven import behaviour by US firms that spurred Canadian exports in the first quarter reversed in the second quarter. Moreover, uncertainty is restraining business and household spending, and labour market conditions are weakening in sectors affected by trade. On inflation, the Bank sees underlying inflation trending around 2.5% but with risks of upward pressure due to tariffs.

Without the added risk of tariff driven inflation, the Bank of Canada would almost certainly be lowering rates in response to a clearly weakening economy that is showing signs of excess supply. However, core inflation continues to trend out of the Bank of Canada's comfort zone on both a 12-month and 3-month basis and the possibility of escalating tariffs is prompting the Bank to be extra cautious. While we expect the Bank will lower rates at its September meeting, that call is at odds with financial markets that are currently pricing in a 2.75% overnight rate for the remainder of the year. Those expectations are being reflected in 5-year bond yields, which have been trending solidly over 3% for the last week which unfortunately will put some upward pressure on 5-year fixed mortgage rates

Copyright British Columbia Real Estate Association. Reprinted with permission.

Canadian Retail Sales (May 2025) – July 24, 2025

Fri, 25 Jul 2025 22:37:28 GMT

Canadian retail sales decreased by 1.1 per cent to $69.2 billion in May 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 relatively unchanged month-over-month. In volume terms, adjusted for rising prices, retail sales decreased by 1.4 per cent in May.

Retail sales in British Columbia were down 0.4 per cent in May from the previous month and rose by 7.1 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 1.1 per cent from the prior month and were 9.0 per cent above the level of May 2024.

May's report largely nullified previous momentum in retail activity over the last 3 months, with sales falling to their lowest level since February of this year. Tariffs continue to hinder Canadian business operations, with over 30 per cent of respondents reporting impact through changes in price and demand for both their raw materials and final products. With core inflation nearing its upper limit, the Bank of Canada appears braced for another rate hold, pending May’s GDP report—the final key data point for the Bank to consider before its meeting.

Copyright British Columbia Real Estate Association. Reprinted with permission.

Canadian Housing Starts (June 2025) – July 17, 2025

Thu, 17 Jul 2025 18:48:14 GMT

Canadian housing starts were largely flat from the previous month, totalling 283,734 units in June at a seasonally adjusted annual rate (SAAR). Starts were up 18 per cent from the same month last year. Single-detached housing starts increased by 1 per cent from last month to 56,645 units, while multi-family and other starts were flat at 227,086 units (SAAR).

In British Columbia, starts rose by 72 per cent from last month to 67,029 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts increased by 1 per cent to 3,880 units, while multi-family starts rose by 85 per cent to 60,314 units month-over-month. Starts in the province were 64 per cent above the levels from June 2024. Year-to-date starts are up 130 per cent in Abbotsford and 23 per cent in Victoria, but down 70 per cent in Nanaimo, 33 per cent in Kelowna, and 11 per cent in Vancouver.

Copyright British Columbia Real Estate Association. Reprinted with permission.