Spring Market Outlook

February brought a balance market to Metro Vancouver’s housing market. With interest rates continuing to fall, and the next rate announcement March 12 many potential buyers are watching the market closely—along with any policies or actions that may influence it, such as the now imposed tariffs from the U.S. With a potential Bank of Canada rate cut March 12, homebuyers may find slightly improved borrowing conditions while enjoying the largest selection of homes on the market since pre-pandemic times. Given the current balanced market conditions, prices have remained in a holding pattern for the past few months.

With the active Spring real estate market season just around the corner, it will be interesting to see whether buyers take advantage of some of the most favourable market conditions seen in years, and whether sellers change their willingness to bring their properties to market.

Following four consecutive months of year-over-year sales gains, last month’s buying activity was down considerably. The combined Greater Vancouver home sales were down 11.7% vs 2024 and almost 30% below the 10 year average. New listings activity slowed from January, but February was still about 10% higher than 2024, and 11.6% above the 10 year average. Combined inventory levels were 32% over February 2024, and 36% above the 10 year average.

Of course, there are plenty of uncertainties. Newly imposed tariffs, new leadership in both the U.S. and possibly Canada could have a major effect on the economy, but it’s still too early to predict what that impact will be.The uncertainty of this is something we are feeling right this minute.  Is this going to last a week or a month? We don't know. 

For more detailed statistics in your specific neighbourhood please ask me. I’m here help navigate and support your next move! Making a move this Spring? Have questions? Concerns? Call me to discuss your unique goals.