Signs of Stability Returning to BC Real Estate

After a challenging couple of years, BC’s housing market is showing signs of stabilization and renewed activity. Summer 2025 brought encouraging trends for both buyers and sellers.

According to the BC Real Estate Association (BCREA), home sales have picked up through the summer. Sales are still below long-term averages, but momentum is building heading into the fall. The Canadian housing market is showing signs of strength. In July, home sales increased by 3.8% from the month before, while new listings rose more slowly. That balance is helping keep the market stable. Prices also look steady; on average, homes are 5.6% higher than a year ago.

Home prices in many BC regions have stabilized, with modest growth in Greater Vancouver and the Fraser Valley. The MLS® Home Price Index is flat month-over-month, which shows a balance between buyers and sellers. With interest rates expected to keep easing into 2025, it’s becoming a more welcoming market for buyers to explore opportunities and for sellers to list with greater confidence.

Canada’s economy slowed down in Q2, with GDP slipping 0.2% annually, which is a bigger drop than expected. Slower consumer spending, weaker exports, and reduced business investment point to a cooling economy.

This slowdown could work in favor of homebuyers and sellers. A weaker economy increases pressure on the Bank of Canada to continue cutting interest rates. The Bank of Canada has cut rates twice this year, and markets expect more gradual cuts through 2025. Fixed mortgage rates have already come down noticeably, and variable rates are starting to follow. With rates easing, more first-time buyers are testing the market again, especially in condos and townhomes.

BC’s housing market is gradually returning to balance. Whether you’re buying, selling, or just curious about your options, now is a great time to assess your next move.

Reach out today to discuss what these trends mean for you and how you can take advantage of the market while conditions are favorable.