This past Mid-Q3, we saw Canadian home sales dip about 1% from the previous month and nearly 7% year-over-year. As someone who’s worked through many market cycles in Greater Vancouver since 2010, these numbers echo what I’m hearing from clients: economic uncertainty and rising mortgage costs are creating a more cautious environment for buyers and sellers alike. While Canada’s price index remained unchanged month-over-month and declined roughly 3% compared to last year, there was a modest 3% rebound in new listings after several months of slow activity. The sales-to-new listings ratio softened to around 49%, well below the long-term average of 55%, suggesting a more balanced—or even slightly buyer-leaning—market. With inflation risks, higher bond yields raising fixed mortgage rates, and markets pricing in a 60% chance of a rate hike in early Q4, it’s clear that conditions continue to evolve. For those navigating these shifts, up-to-date, local insight is key to making confident real estate decisions in Greater Vancouver.
Leave a Reply