We’ve weathered storms before. Remember the 2008 market crash? We came through it. The 2016 correction? Survived that, too. COVID? We adapted, pivoted, and kept moving.
Now in 2025, with chatter about interest rates, inflation, and tariffs—it’s easy to feel uneasy. But take a deep breath. This isn’t the end of the road. The market is shifting—not crashing—and that shift is opening doors for savvy buyers, sellers, and homeowners alike.
Here’s what you need to know—and how to make the most of the moment.
What’s Happening in the Real Estate Market Right Now?
The Bank of Canada has lowered interest rates again, and more cuts are expected throughout the year. According to Dr. Sherry Cooper, Chief Economist at Dominion Lending Centres, the overnight rate could drop to 1.75% by year-end, which would significantly ease borrowing costs.
At the same time, global economic factors like trade tariffs are stirring uncertainty, but the big picture? Lower rates = more activity in the housing market.
If You Own a Home
Mortgage up for renewal? You could be looking at lower monthly payments.
Thinking renos? Refinancing may now be more affordable than ever.
Have a HELOC? Your payments might already be dropping—or will soon.
This could be a great time to assess your financial picture and use your home’s equity wisely.
If You’re Selling a Home
Yes, inventory is higher than it’s been in years—but that’s not a bad thing.
More listings mean more buyers are out looking. They’re serious. They’re informed. And they’ve got access to better borrowing options.
Plus, with the spring market warming up and competition still catching up, your home has a real chance to stand out—especially if priced and marketed right.
Pro tip: Homes that are well-prepared and strategically listed are still selling fast—and at strong prices.
If You’re Looking to Buy
Lower interest rates mean lower monthly payments, making homeownership more accessible.
But here’s the heads-up: more competition is coming. Buyers who’ve been sitting on the sidelines are jumping back in. That window of opportunity won’t stay open forever—so having your financing in place and a plan ready could make all the difference.
What Should You Do Next?
Every homeowner’s situation is different. Whether you’re buying, selling, refinancing—or just wondering if you should do anything at all—now is the time to get clear on your options.
Let’s chat. No pressure, no pitch—just a real conversation about what makes the most sense for you in today’s real estate market.
Have questions? Want to run some numbers? Thinking about a move this year?
CREA & BCREA Push Housing to the Forefront of the Federal Election Debate
3. Doubling Community Housing A mix of new policies—including a housing bond, an affordable housing tax credit, and expanded CMHC programs—would support the construction, acquisition, and maintenance of affordable housing.
4. Unlocking Land for Housing By repurposing surplus and underutilized lands, expanding the Build Canada program, and leveraging municipal land, CREA aims to create more community and affordable housing opportunities.
5. Strengthening Housing Supply Chains Reducing interprovincial trade barriers and diversifying import sources would help Canada secure housing materials without excessive reliance on the US market.
As Canada heads toward a crucial federal election, housing remains one of the country’s most pressing issues. In response, the Canadian Real Estate Association (CREA) and the British Columbia Real Estate Association (BCREA) are working to ensure that housing policy takes center stage in the national debate.
BCREA is actively supporting CREA’s pre-election campaign, which includes a mid-April web-based leadership debate and a dedicated resource page on its website. The campaign highlights a ten-part housing strategy aimed at creating a more sustainable and resilient housing ecosystem, especially as the country navigates economic uncertainty and looming US trade tariffs.
CREA’s 10-Part Housing Strategy
1. Establishing a Housing Safety Net To protect Canadians from economic downturns, CREA proposes housing-focused benefits, stronger social assistance, mortgage protection measures, and better preparation for an increase in asylum seekers.
2. Protecting Renters from Homelessness With market instability, vulnerable renters face increased risks. CREA calls for a freeze on no-fault evictions, expanded rent banks, and new funds to preserve lower-rent housing.
6. Building a Skilled Housing Workforce CREA supports re-skilling displaced workers for housing-related careers and attracting skilled tradespeople from the US to bolster Canada’s homebuilding capacity.
7. Reforming Taxes to Encourage Development Homebuilding should not be hindered by excessive taxes and fees. CREA advocates for incentives and new infrastructure funding models instead of reliance on development charges.
8. Streamlining Housing Development Regulations By simplifying approvals and cutting red tape, CREA aims to accelerate home construction and improve housing outcomes.
9. Boosting Innovation in Homebuilding Increased investment in low-carbon housing, tax credits for innovation, and better procurement practices would support faster, more affordable, and environmentally friendly home construction.
10. Expanding Indigenous Housing A for-Indigenous, by-Indigenous approach to urban, rural, and northern housing is critical. CREA calls for targeted investments and federal support to meet the unique housing needs of First Nations, Inuit, and Métis communities.
The Time for Action is Now
With affordability concerns mounting, housing must be a top priority in the upcoming federal election. CREA and BCREA are ensuring that candidates and policymakers focus on long-term solutions that protect homeowners, renters, and communities. By advocating for a more resilient housing market, these organizations are working to make homeownership and rental stability a reality for all Canadians.
Top 5 Tips to Be Ready When Your Dream Home Hits the Market
In today’s fast-moving real estate market, preparation is key. The last thing you want is to find your dream home—only to lose it because you weren’t ready to act. Here are five essential steps to ensure you’re ready to make an offer the moment the right home comes along.
1. Get Your Mortgage Documents in Order
Before you start house hunting, have your financial paperwork ready. This includes: ✅ Government-issued ID ✅ Proof of income & employment ✅ Bank statements & proof of down payment ✅ A mortgage pre-approval letter Having these documents ready will help you move quickly when you find the right home.
2. Know Your Offer Terms
Be clear on what you’re willing to offer, including: ✔️ Purchase price & deposit amount ✔️ Closing date preferences ✔️ Any conditions (like financing or home inspection) This speeds up the process when it's time to submit an offer.
3. Be Ready to Make a Personal Connection
In competitive markets, a personalized letter to the seller can make a difference. Express why you love the home and how it fits your future—it just might give you an edge over other buyers.
4. Have an Expert Review Your Deal
Your real estate agent is your biggest asset when structuring an offer, negotiating, and ensuring all paperwork is in order. For extra peace of mind, consider a real estate lawyer to review your contract before signing.
5. Stay Flexible and Act Fast
When the perfect home comes on the market, hesitation can mean losing out. Be prepared, act quickly, and trust your strategy.
With the right preparation, you’ll be ready to secure your dream home with confidence and ease!
Tariffs, economic uncertainty stall spring market in the Fraser Valley
SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years.
The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year.
Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.
The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.
Across the Fraser Valley in March, the average number of days to sell a single-family detached home was 31, while for a condo it was slightly higher at 33 days. Townhomes took, on average, 27 days to sell.
The composite Benchmark price in the Fraser Valley increased just under half a per cent in March, up 0.4 per cent to $974,400.
