March 2025 Market Update

'Most favourable conditions in years':

experts note buyer's market in Metro Vancouver

Experts in the housing market are calling Metro Vancouver and the Fraser Valley a buyer's market, with more properties on the market and prices weakening.

The Fraser Valley Real Estate Board says through February, buyers had more leverage and more time to explore options.

With 7,251 active listings in January, the board says inventory was at a 10-year seasonal high - 54 per cent above the 10-year average.

Greater Vancouver Realtors (GVR) paints a similar picture for the Metro market, calling it balanced.

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B.C. Real Estate News

MACDONALD REALTY

Opinion: Building homes and superstar cities is critical to Canada's future (BIV)

LOWER MAINLAND

Metro Vancouver still most expensive place to rent a home despite downward pressure (CityNews Everywhere)

Buyers gaining upper hand in Fraser Valley real estate market (Financial Post)

Sales Recovery In Greater Vancouver Real Estate Market Stalls (STOREYS)

Vancouver home sales fall as market conditions more balanced in February: board (Canadian Mortgage Trends)

VICTORIA AND VANCOUVER ISLAND

VICTORIA REAL ESTATE OFF TO STRONG START IN 2025 (Business Examiner)

Spectre of tariffs loom over Victoria housing market (Vancouver Island Free Daily)

OKANAGAN

Property taxes going up 12.3 per cent in Regional District of North Okanagan (Castanet)

North, Central Okanagan housing sales increased annually in February (Vernon Matters)

BRITISH COLUMBIA

B.C. minister sees more housing certainty ahead despite trade war worries (BIV)

BC Budget 2025: What The Province Has Planned For Housing (STOREYS)

CANADA

BMO Forecasts Interest Rate To Drop To 2% By July As Tariffs Go Into Effect (STOREYS)

Precarious recovery for Canada's real estate market is underway (Calgary Herald)

Tariffs set to slow pace of homebuilding in Canada (Financial Post)

Home insurance rates increase in 2025 - report (Insurance Business)