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Canadian Employment (August 2025) – September 5, 2025

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.

Copyright British Columbia Real Estate Association. Reprinted with permission.

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Quick Snapshot of METRO VANCOUVER'S August 2025 MLS Sales

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.

*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.

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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.   

*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.

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

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. 

Copyright British Columbia Real Estate Association. Reprinted with permission.

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

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.

Copyright British Columbia Real Estate Association. Reprinted with permission.

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Canadian Inflation (July 2025) – August 19, 2025

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.

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

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.

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British Columbia MLS Sales in July 2025

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.

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Canadian Employment (July 2025) – August 8, 2025

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.

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Quick Snapshot of METRO VANCOUVER'S July 2025 MLS Sales

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.

*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.

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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. 

*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.

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

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.

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The Bank of Canada held its overnight policy rate at 2.75 per cent this morning.  In the statement accompanying the decision, the Bank noted that 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.

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

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.


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

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-monthStarts 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.


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Canadian Inflation (June 2025) – July 15, 2025

Canadian prices, as measured by the Consumer Price Index (CPI), rose 1.9 per cent on a year-over-year basis in June, up from a 1.7 per cent increase in May. Month-over-month, on a seasonally adjusted basis, the CPI was up 0.2 per cent in June. Upward pressure on headline inflation was largely driven by a slower fall in gasoline prices year-over-year compared to May, along with higher price growth for durable goods (2.7 per cent). Additionally, shelter price growth continues to cool, with prices growing by 2.9 per cent in June, slightly down from 3.0 per cent in May. Furthermore, the CPI ex-energy rose by 2.7 per cent in June. Food purchased in grocery stores rose at a slower pace of 2.8 per cent year-over-year compared to 3.3 per cent the previous month. In BC, consumer prices rose 2.1 per cent year-over-year in June, down from 2.3 per cent in May. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, are at 3.1 per cent and 3.0 per cent year-over-year, respectively. 
 
June's CPI report illustrates ongoing upward pressure on prices despite monthly fluctuations in headline inflation. The Bank of Canada's core measures of inflation remain at the upper end—and even outside—of their target range, likely due to the price impacts of tariffs on major Canadian industries. Moreover, Canada remains vulnerable to further price acceleration with renewed tariff threats from the United States. Taken together, this report favours a rate hold from the Bank during its July meeting, as they have repeatedly signalled hesitancy to enact policy that may accelerate inflation beyond neutral levels amidst immense uncertainty concerning trade policy. 

Copyright British Columbia Real Estate Association. Reprinted with permission.


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British Columbia MLS Sales in June 2025

The British Columbia Real Estate Association (BCREA) reports that 7,162 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in June 2025, up 1.3 per cent from June 2024. The average MLS® residential price in BC in June 2025 was down 4.2 per cent at $954,065 compared to $995,614 in June 2024.

The total sales dollar volume was $6.8 billion, a 3 per cent decrease from the same time the previous year. BC MLS® unit sales were 23 per cent lower than the ten-year June average.
 
“Many regional housing markets across BC remained resilient through the second quarter, with only the Lower Mainland falling below sales activity from the previous year,” said BCREA Chief Economist Brendon Ogmundson. “Until broader uncertainties are resolved, we expect overall housing activity in the most expensive areas of the province to continue lagging behind other regions that have steadily recovered since the onset of tariff uncertainty.”
 
Year-to-date, BC residential sales dollar volume is down 11 per cent to $34.2 billion, compared with the same period in 2024. Residential unit sales are down 7.1 per cent year-over-year at 35,847 units, while the average MLS® residential price is also down 4.2 per cent to $954,241.

Copyright British Columbia Real Estate Association. Reprinted with permission.

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