Canada’s Housing Market in 2025: Opportunity or Uncertainty?

Prices Holding Steady… For Now

Despite shifting supply and demand, home prices remain remarkably stable. The MLS Home Price Index dipped by just 0.08% month-over-month, while the national average price rose 1.1% year-over-year to $670,064. However, this stability feels fragile. If trade tensions escalate, housing demand could take a hit, putting downward pressure on prices in affected regions.

Trade War Threat: A Game-Changer for Housing?

The biggest wildcard in the housing market right now is the potential U.S.-Canada trade war. Proposed tariffs

MARCH 13-16, 2025 | BC Place Stadium

I have FREE tickets available for the BC Home & Garden  Show 

I will be at the show on March 15th from 11-1 pm this year with my wife Samantha from Kleen Design, if you have any design questions or would just like to connect for a drink, text me when you are at the show...

EMAIL ME for tickets

Furnace and Boiler Checklist

Replace the Air Filter: Check the furnace air filter and replace it. A clean filter allows for better airflow, improves efficiency, and helps maintain indoor air quality.

Check the Thermostat: Test your thermostat to ensure it's working correctly. Consider upgrading to a programmable thermostat if you don't have one, as it can help you save energy and money.

Inspect the Vents and Registers: Ensure that all vents and registers are clear of obstructions such as furniture, curtains, or rugs. Proper airflow is crucial for efficient heating.

Inspect the Exhaust Flue: Check the furnace exhaust flue for any obstructions or debris. 

Schedule Professional Maintenance: Consider hiring a professional HVAC technician to perform a thorough inspection and tune-up. They can identify and address potential issues before they become major problems.

• Clean/Lubricate blower motor

• Check for gas leaks and carbon monoxide

• Inspect heat exchanged

• Pilot safety system

• Clean and check burners

• Test limit switches and main burners

Buyers gaining upper hand in Fraser Valley real estate market

SURREY, BC — For the first time in four months, home sales in the Fraser Valley have increased as buyers capitalize on more selection and weakening prices.

 The Fraser Valley Real Estate Board recorded 920 sales in February, up 13 per cent from January, but 26 per cent below sales recorded in February 2024.

Despite a nine per cent drop in newly listed homes on the Board’s Multiple Listing Service® (MLS®), new listings remained 14 per cent above the 10-year seasonal average, at 3,121. Overall inventory remains high, at 8,070 active listings, 45 per cent above February 2024 and 55 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 with the ratio is between 12 per cent and 20 per cent.

 Homes across the Fraser Valley sold in fewer days in February compared to January. The average number of days to sell a single-family detached home was 39, while for a condo it was 36. Townhomes took, on average, 32 days to sell.

  The composite Benchmark price in the Fraser Valley dipped less than a quarter of a per cent in February, down 0.2 per cent to $962,500.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

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Wills, Powers of Attorney, and Estate Planning: Why You Should Plan Now

Many people put off estate planning, thinking it’s something to worry about later in life. However, the reality is that having an estate plan in place now is one of the best ways to protect your loved ones and ensure your wishes are carried out if the unexpected happens.

Estate planning isn’t just about dividing assets—it’s about deciding who will manage your affairs, who will take care of your children, and how your financial and healthcare decisions will be handled if you are unable to make them yourself.

MARCH 13-16, 2025 | BC Place Stadium

I will have tickets again for the BC Home and Garden Show. stay tuned on how to get tickets…

Essential Estate Planning Documents

A comprehensive estate plan includes more than just a will. Here are the key documents you should consider:

1. Will

A will is the cornerstone of any estate plan. It outlines how your assets will be distributed, who will manage your estate, and, most importantly, who will become the guardian of your children if needed. Without a will, these critical decisions may be left to the courts.

2. Power of Attorney

A power of attorney allows you to designate someone you trust to handle your financial affairs if you become unable to do so yourself. This ensures that your bills are paid, your investments are managed, and your financial well-being is protected.

3. Representation Agreement

A representation agreement allows you to appoint someone to make personal and healthcare decisions on your behalf if you become mentally or physically incapable. This document is crucial in ensuring that your healthcare wishes are followed.

4. Advance Care Plan

An advance care plan is a written document outlining your healthcare wishes and instructions for future medical care. It may include:

• A power of attorney for financial decisions

• A representation agreement for healthcare decisions

• An advance directive specifying what kind of medical treatment you do or do not want in certain situations

Having an advance care plan in place helps ease the burden on loved ones, ensuring they know your wishes and can advocate for your best interests.

Fraser Valley’s decade-high inventory could open doors for buyers.

SURREY, BC — Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions.

Newly listed homes jumped 167 per cent from December to January, with 3,432 listed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). At 7,251 active listings, inventory is at a 10-year seasonal high, 54 per cent above the 10-year average.

While sales remained slow in January, with 818 properties sold (down 18% from December), the combination of stable prices and abundant selection presents potential opportunities for buyers to get back into the market.

 The sales-to-active listings ratio appears to bear this out. At 11 per cent, the overall ratio is signaling a buyer’s market, with detached homes firmly in buyer’s market territory. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

 It took longer to sell homes in January compared to December. Across the Fraser Valley, the average number of days to sell a single-family detached home was 52, while for a condo it was 42. Townhomes took, on average, 38 days to sell.

Benchmark prices in the Fraser Valley held relatively steady in January, with the composite Benchmark price down 0.03 per cent to $964,800.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

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Highlights: BC Home Flipping Tax Now in Effect

As of January 1, 2025, the BC Home Flipping Tax is officially active. This new tax targets speculative property flipping to promote long-term homeownership and market stability. It applies to properties sold within 730 days (two years) of ownership, including sales of presale contracts or assignments. The tax rate starts at 20% on profits for properties sold within the first year of ownership and gradually decreases, reaching zero after two years. Importantly, this tax applies to individuals, corporations, partnerships, and trusts, regardless of residency status.

As the year comes to a close, I want to take a moment to express my deepest gratitude for your trust, support, and friendship. Whether we worked together this year or in the past, your belief in me has been invaluable, and I am truly honored to have been part of your journey.

2024 has been filled with exciting milestones and memorable moments, and I couldn’t have achieved them without amazing clients and friends like you. I am so grateful for the opportunity to help you with your real estate goals and look forward to continuing to support you in any way I can in the future.

As we welcome 2025, I wish you and your loved ones a year filled with health, happiness, and prosperity. May this new year bring fresh opportunities, new adventures, and plenty of reasons to celebrate.

Top 5 Tips for Selling Your Home During the Holidays

The New Year is a time for fresh starts and ambitious goals, but sticking to those resolutions can feel like an uphill battle. Studies reveal that nearly 70% of people abandon their resolutions within months. The good news? With the right approach, you can set yourself up for success. Here are five expert-backed strategies to help you stay on track and achieve your goals.

1. Start Small and Build Momentum

Rather than overhauling your life overnight, break your resolution into smaller, manageable steps. For example, instead of vowing to “get fit,” commit to taking a 10-minute walk every day or swapping one unhealthy snack for a healthy option. Small wins build momentum and confidence, making it easier to stick to your plan.

2. Focus on the Bigger Picture

Think about what achieving your resolution will help you accomplish. If your goal is to save money, imagine the vacation you’ve been dreaming of or the financial freedom you’ll gain. Keeping your “why” in mind gives your resolution purpose and makes it easier to stay motivated.

3. Frame Your Goals Positively

Rather than framing your resolution as breaking a bad habit, think in terms of creating a positive goal. For instance, instead of “stop procrastinating,” set a goal to “spend 15 minutes every morning tackling important tasks.” This approach focuses on growth and progress rather than deprivation.

4. Find a Support System

Don’t go it alone! Share your resolutions with friends or family members who can encourage you along the way. Even better, find a buddy with a similar goal so you can hold each other accountable and celebrate progress together.

5. Practice Self-Compassion

Nobody is perfect, and slip-ups are part of the process. When you miss a day or fall short of your goal, be kind to yourself and move forward without guilt. According to Tamara Russell of the British Psychological Society, practicing self-compassion can not only help you stick to your resolutions but also make you more compassionate toward others.

Resolutions are an opportunity to grow, not a test of perfection. By starting small, focusing on the bigger picture, framing your goals positively, enlisting support, and being kind to yourself, you can turn your New Year’s intentions into lasting change. Here’s to making this year your best one yet!

New listings at 10-year high in 2024, but affordability still the elephant in the room in Fraser Valley

SURREY, BC — Bank of Canada interest rate cuts that began mid-year were not enough to ease the affordability crisis for many home buyers in the Fraser Valley in 2024, leading to a decline in annual sales.

The Fraser Valley Real Estate Board reported new listings of 35,698 for the year ended December 31, 2024, a 10-year high and nine per cent above the 10-year average. However, annual sales recorded on the Multiple Listing Service® (MLS®) were the lowest seen in ten years at 14,570, a decline of one per cent over 2023 and 24 per cent below the 10-year average. The City of Surrey accounted for the majority of 2024 sales at 51 per cent, with Langley and Abbotsford accounting for 24 per cent and 15 per cent respectively.

The composite Benchmark home price in the Fraser Valley closed the year at $965,000, down two per cent year-over-year, and down four per cent from its 2024 peak in March.

The Board recorded 994 sales on its MLS® in December, a decline of 13 per cent from November, but 19 per cent above sales from December 2023. 

New listings declined 46 per cent from November to December, from 2,367 to 1,288, contributing to a 23 per cent decline in overall inventory in December. With a sales-to-active listings ratio of 16 per cent in December, the overall market closed out the year in balance. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

It took longer to sell townhomes and condos in December compared to November. Townhomes spent 36 days on the market, up from 33 days in November, while condos spent 38 days on the market, up from 36 days in the previous month. Single-family homes spent 43 days on the market — no change from November.

The composite Benchmark home price in the Fraser Valley continued to slide for the ninth straight month, down 0.5 per cent compared to November. 

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

Connect

Exciting News for Fraser Valley Homeowners and Buyers: What the Latest Rate Cut Means for You

The Bank of Canada has made a significant move to wrap up the year, announcing its fifth consecutive rate cut. The benchmark rate has been lowered by 50 basis points to 3.25%—the lowest level since October 2022. This decision could have a profound impact on homeowners, buyers, and anyone considering mortgage options in the Fraser Valley.

‘Twas the night before Christmas and all through the house
Not a creature was stirring, not even a mouse

My signs were all out and brochure boxes loaded
The ad copy in and the lock boxes coded.

I just wrote an offer with that 1 perfect buyer
egads it’s so low…they say they won’t go any higher

So I call up my seller with the not so good news
And they agree to meet with me…what have they got to lose

So we sit at the table & I do what I do best
Crunch numbers, talk deadlines and give it a rest

So the sellers agree and get ready to sign
And then they exclaim… “We’ve got an equity line!”

More crunching & digging to find extra money
The sellers are smiling…but this really isn’t funny

3 months on the market with nary a showing
Now I have an offer and not sure how it’s going

And that’s when they ask what I don’t want to hear
“Can you cut your commission?” and they crack open a beer

What I need is a Martini while relaxing by a pool
I reply that “I can’t…it’s a company rule”

So I ring up the buyer right there on the spot
I need to know if they’ll consider a counter or not

To my surprise they speak up, “we’ve got $5000 more”
If its signed tonight we’ll accept it but absolutely no more.

So back to sellers for signatures on the line
They hem & they haw & then finally sign

I email the buyer and get their reply
Accepted as countered, now I’m flying high

The sellers are happy as I walk out the door
It’s just 9pm, I can stop at the store

I pick up some goodies for my own Christmas treat
Head home to chill out and put up my feet.

When I drive up to my house it is such a great sight
All lit up for the holidays with the lights oh so bright

A smile crosses my face as I thought it just might
“Merry Christmas to All and to All a Good Night”!

Shelly Brunette

Top 5 Tips for Selling Your Home During the Holidays

he holiday season from November through January is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages: holiday buyers tend to be more serious and competition is less fierce with fewer homes being actively marketed. First, decide if you really need to sell. Really. Once you've committed to the challenge, don your gay apparel and follow these tips…

1. Deck the halls, but don’t go overboard.
   Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.
   

2. Hire a reliable real estate agent.
   That means someone who will work hard for you and won't disappear during Thanksgiving, Christmas or New Year's. Ask your friends and family if they can recommend a listing agent who will go above and beyond to get your home sold. This will ease your stress and give you more time to enjoy the season.
   

3. Seek out motivated buyers.
   Anyone house hunting during the holidays must have a good reason for doing so. Work with your agent to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, college students and staff, and military personnel, if you live near a military base.
   

4. Price it to sell.
   No matter what time of year, a home that’s priced low for the market will make buyers feel merry. Rather than gradually making small price reductions, many real estate agents advise sellers to slash their prices before putting a home on the market.
   

5. Make curb appeal a top priority.
   When autumn rolls around and the trees start to lose their leaves, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers’ safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves.

Fraser Valley home sales returning to seasonal norms in November after October surge.

SURREY, BC — Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.

  The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but 28 per cent above November 2023 sales.

A decline in new listings chipped away at overall inventory in November, with active listings declining eight per cent to 8,125. Overall inventory, however, remains at a 10-year seasonal high and 30 per cent above November 2023 levels. New listings dropped 26 per cent in November to 2,367, but remain above the 10-year seasonal average and above levels from November 2023. The Fraser Valley remains in a balanced market with a sales-to-active ratio of 14 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 November, the average number of days to sell a single-family detached home was 43, while for a condo it was 36. Townhomes took, on average, 33 days to sell.

  Benchmark prices in the Fraser Valley dipped for the eighth straight month in November, with the composite Benchmark price down 0.2 per cent to $969,500.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

Connect

Economic Insights from Dr. Sherry Cooper

 Earlier this cycle, there were more job vacancies than people looking for work, so the drop in job openings didn't have a material impact on the economy. But that's no longer the case. September's inflation data confirms that the job market trend is downward.

 Economic growth has been below potential since 2022, and preliminary third-quarter data indicate another slowdown to about 1.3% growth in Q3, well below the BoC's initial forecast. Hiring intentions remain woefully inadequate in the face of staggering population growth.

Thanks to everyone who went to the home show…

We had a great time at the Fall Home Show. Thanks to everyone who came out.

Hope to see you again at the Spring show…

Winterizing Your Home – Inside and Out!

With temperatures falling across many parts of the country, it’s a good time to start thinking of preparing your home for harsh winter conditions like snow and ice.

This process, called winterization, is usually performed in the fall before excessive cold arrives. Maintenance on both the exterior and interior of your home during this time can not only protect the structure from weather-related catastrophes, but it can also save you money by way of lower utility bills.

Click HERE to download the Infographic

Rising home sales a sign of market shift in the Fraser Valley?

SURREY, BC — Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October.

The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

New listings declined in October, down 5 per cent to 3,194, but increased 26 per cent year-over-year. Overall inventory dipped in October to 8,799, down three per cent from September, but up 34 per cent over last year. Rising sales and steady inventory levels have the Fraser Valley in a balanced market with a sales-to-active ratio of 15 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 October, the average number of days to sell a single-family detached home was 34, while for a condo it was 32. Townhomes took, on average, 29 days to sell.

Benchmark prices in the Fraser Valley dipped for the seventh straight month in October, with the composite Benchmark price down 0.7 per cent to $971,700.

For the latest statistics package click HERE

If you have any questions feel free to reach out. I am here to help: 

Connect

The Government of Canada has just announced new mortgage reforms that could reshape the housing landscape...

In a major move that aims to make homeownership more accessible to Canadians, the new reforms introduced include:

WANT TO GO TO THE HOME SHOW?

We will have tickets again for the Fall Home Show happening Oct. 25th-26th at the Vancouver convention center. Samantha from Kleen Design and I will be there Saturday Oct. 26th at noon to meet up and answer any interior design questions you may have. Tickets are limited, so reach out if you would like to attend.

Top 5 Reasons Your House Won’t Sell

Selling your home can be a daunting task that can leave you feeling incredibly overwhelmed. We don’t want you to feel this way, which is why we have created this for you. We sincerely hope that you find this information valuable and see success from it.

• Secret #1 PRICING

• Secret #2 PRESENTATION

• Secret #3 CONDITION

• Secret #4 FINDING THE RIGHT AGENT

• Secret #5 MARKETING

Click this LINK to get the full article

Sluggish sales and rising inventories see Fraser Valley moving toward a buyer’s market.

SURREY, BC — With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10- year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.

The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.

New listings rose in September, up 21 per cent to 3,352, an increase of 17 per cent year-over-year. Overall inventory increased five per cent from August to September to 9,045, up 39 per cent over last year. The combination of declining sales and rising inventories has helped to create balanced, and in some cases, buyers’, market conditions in the Fraser Valley.

Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 35, while for a condo it was 37. Townhomes took, on average, 30 days to sell.

Benchmark prices in the Fraser Valley dipped again in September, with the composite Benchmark price down 1.4 per cent to $978,800.

If you have any questions feel free to reach out. I am here to help: 

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