Home sales on Vancouver Island are off to a slow start in 2026, with buyer activity subdued as uncertainty mounts on multiple fronts. Rising interest rates, US tariffs on Canadian exports, a broader economic slowdown, unresolved Aboriginal title questions under DRIPA, and ongoing conflict in the Middle East have all contributed to hesitation in the market, making Q1 2026 the second slowest first quarter...
“The housing market continues to be challenged by persistent global headwinds and a struggling economy,” said BCREA Chief Economist Brendon Ogmundson. “However, improved affordability in many markets combined with several years of pent-up demand creates conditions for a rebound, though households will likely need a prolonged period of stability to re-enter the market.” For the complete news...
Canada’s spring housing market is beginning to show signs of life after a long winter that kept many buyers and sellers on the sidelines. While headlines around economic uncertainty and global conflict continue to weigh on consumer confidence, a recent uptick in activity suggests a slow but welcome start to the spring market. According to the Royal LePage® House Price Survey and Market...
The Canadian real estate market closed out 2025 with a modest decline in housing prices, reflecting lingering consumer hesitation amid ongoing economic uncertainty. Looking ahead, a modest spring rebound is possible as lower interest rates and healthy inventory levels begin to draw some buyers back to the offer table. According to the Royal LePage® House Price Survey and Market Forecast, the...
Across much of the country, rising inventory levels combined with easing borrowing costs are helping shift many real estate markets into a more balanced state. This is creating improved conditions for buyers, who are benefiting from more choice and better affordability than in recent years. However, not all buyers are ready to step back into the market. With some demand still sitting on the sidelines –...
Real estate activity in the Vancouver Island Real Estate Board (VIREB) area picked up in June following a sluggish spring. In Q2 2025, there were 2,247 residential sales totalling $1.8 billion, up 4.8% in the number of transactions and 6.8% in value compared to the same period last year. However, this growth was largely driven by a strong June, with overall market activity still muted. Sales remain well...
The federal election, tariff turbulence and mixed economic signals dominated headlines during the spring and first weeks of summer of 2025. Faced with growing uncertainty, many homebuyers across Canada hit pause, choosing to delay major decisions until clearer signs of stability emerged. According to the Royal LePage® House Price Survey and Market Forecast released today, the aggregate1 home...
The Vancouver Island real estate market experienced a modest increase in sales in early spring 2025 compared to the same period in 2024; however, this growth primarily reflects the weakness of last year’s market rather than a bounce back. Moreover, sales have stayed below the 10-year monthly average, confirming lower than average market activity. In Q1 2025, there were 1,452 residential sales totalling...
Key highlights from the release include:- The national aggregate home price rose 2.1% year over year in Q1 2025, and a modest 1.2% over Q4 2024.- Greater Montreal Area’s aggregate home price increased 7.9% year over year, while the greater Toronto and Vancouver markets recorded declines of 2.7% and 0.7%, respectively.- Quebec City continues to lead the country in aggregate price appreciation, rising...
VIREB recorded 493 unit sales (all property types) in February 2025, the same as one year ago. Year-over-year active listings (all property types) rose by three per cent, climbing to 3,235 from 3,153 in February 2024. In the single-family category (excluding acreage and waterfront), 239 homes sold in February, down four per cent from one year ago and up 17 per cent from the previous month. Sales of...
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