After the rush of new listings in January, home sales and new listings in February were closer to historical averages, which has positioned the overall market in balanced conditions.
With the Bank of Canada's rate cut on March 12th, homebuyers will see improved borrowing conditions while benefiting from the largest selection of homes available since pre-covid times.
However, the ongoing tariff war may slow housing activity, while rising construction costs could delay projects and keep new home prices elevated. BC’s diverse trade portfolio may help mitigate the impact. A likely scenario is a temporary slowdown before a rebound driven by lower mortgage rates.
Stay tuned for more updates on the BC real estate market.
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👨💼 Victor Song PREC*
📍 Royal LePage Sterling Realty
📞 604-779-8408
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.