Canadian prices, as measured by the Consumer Price Index (CPI), rose 2.6 per cent on a year-over-year basis in February, up from a 1.9 per cent increase in January. Month-over-month, on a seasonally adjusted basis, CPI increased by 0.7 points in February. Products affected by the end of the GST/HST tax break saw slower year-over-year price declines compared to previous months, placing upward pressure on headline inflation. Overall, shelter price growth continues to cool, as mortgage interest costs were up 9.0 per cent, marking the eighteenth consecutive month of deceleration. Similarly, rent was up 5.8 per cent in February year-over-year, down from 6.3 per cent in January. In BC, consumer prices rose 3.0 per cent year-over-year, up from 2.2 per cent in January. The Bank of Canada's preferred measures of median and trimmed inflation, which strip out volatile components, both rose to 2.9 per cent year-over-year.

February's CPI report saw inflation rise by 0.7 points from the previous month, the largest monthly jump in nearly three years. Most of this movement can be attributed to the end of the tax break mid-month, which halted previous downward pressure from several sub-components. Importantly, February saw further increases in the Bank's core measures for a second consecutive month, which now lie near the upper threshold of their target range. Coupled with looming tariffs in April, this report favours the probability of the Bank holding the overnight rate at its current level during their next meeting. 

https://mailchi.mp/bcrea/canadian-inflation-february-2025

For more information, please contact: Gino Pezzani.

Canadian housing starts fell by 4 per cent to 229,030 units in February at a seasonally adjusted annual rate (SAAR). Starts were down 12 per cent from the same month last year. Single-detached housing starts fell by 1 per cent from last month to 56,273 units, while multi-family and other starts dropped by 5 per cent to 172,759 units (SAAR).

In British Columbia, starts fell by 22 per cent from last month to 31,913 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts fell by 17 per cent to 3,994 units, while multi-family starts fell by 24 per cent to 25,735 units month-over-month. Starts in the province were 32 per cent below the levels from February 2024. Year-to-date starts are up by 188 per cent in Abbotsford and 4 per cent in Kelowna, while being down by 60 per cent in Nanaimo, 46 per cent in Victoria, and 18 per cent in Vancouver.

https://mailchi.mp/bcrea/canadian-housing-starts-february-2025

For more information, please contact: Gino Pezzani.

In a world that races toward the next thing, there is a quiet magic in starting slow.

The magic begins when the soft hum of morning light filters through the curtains and the way it gently stirs the room to life. The kettle sings and steam curls from your cup, carrying warmth to your fingertips — a small comfort, but the kind that lingers.

You pause, only for a moment, and let the world feel still. There’s no rush to check a screen or fill the silence. The minutes stretch out like a ribbon, smooth and uninterrupted.

Take a deep breath, stretch and let your mind wander, or simply sit with the sound of the day awakening.

A slow morning is not a wasted morning; it’s a gift to yourself, a reminder that life is not about what you accomplish, but how you choose to begin.

Step into the day softly. The rest will follow.

Spring whispers renewal and growth. From blooming gardens to brighter days, March invites us to declutter our homes, minds and routines.

It’s the birds returning with songs of cheer, and the scent of blossoms in the crisp, clear air. Windows are flung open, letting sunlight peek through, promising something refreshingly new.

Spring is a time to refresh — to swap heavy coats for lighter layers, open the windows and embrace the longer days.

It’s also the perfect season for a new mindset.

Whether you’re clearing clutter, revisiting goals or starting new habits, growth begins with fresh energy.

As the days get brighter and longer, take a deep breath, set your
sights forward and step into the possibilities ahead.

In a small mountain village in Japan, an elderly gardener spent 50 years tending to a single cherry tree. Visitors often questioned his dedication to this one tree, especially because the surrounding hillsides burst with thousands of blossoms each spring.

Every year, he studied his tree and pruned it with careful precision. While other trees bloomed in spectacular shows of pink, his tree remained modest but grew slowly and steadily. Some villagers whispered that he had wasted his life on an unremarkable tree.

Then one spring, when the other cherry trees began to fade and a late frost killed the flowers, his tree burst into bloom, making it the only cherry tree still blooming during the village's annual festival.

The gardener's patient cultivation had created a unique variety of tree that bloomed later than others, which ensured the festival would always have cherry blossoms. His decades of careful attention resulted in something extraordinary because he understood that some things require their own perfect timing.

Sometimes the most valuable growth happens in its own time, invisible to others until the moment is right. 

Gino Pezzani

RE/MAX Heights Realty

www.vanhomesales.com

604-418-9366

As the season shifts, what you eat can boost your energy and mood. According to Harvard Medical School, foods rich in omega-3 fatty acids, vitamins and minerals play a critical role in boosting mood and brain health. Here are five foods to incorporate this spring:

Spinach – Rich in folate and magnesium, spinach combats fatigue and brain fog. Add it to salads, omelets, or smoothies.

Strawberries – Packed with antioxidants and vitamin C, they’re a refreshing way to sweeten your day.

Avocados – Loaded with healthy fats, avocados support brain health and keep you feeling satisfied.

Asparagus – High in fiber and folate, asparagus is great for digestion and overall energy.

Salmon – Rich in omega-3s, salmon reduces stress and improves focus.

Combine these foods in vibrant spring dishes for meals that nourish your body and mind, and
energize and uplift you.

The Bank of Canada lowered its overnight policy rate by 25 basis points this morning from 3 per cent to 2.75 per cent.  In the statement accompanying the decision, the Bank noted that trade tensions will slow momentum from robust GDP growth observed in the second half of 2024, though how much the economy might slow is complicated by the uncertainty from a rapidly evolving policy landscape. On inflation, the Bank expects prices to rise slightly above their 2 per cent target as the GST tax break ends and forecasts that core inflation will remain above 2 per cent due to persistently elevated shelter costs.

Thanks to tariffs, the Bank of Canada is faced with heightened uncertainty and an economy that may be set to slow down rather than speed up as was expected just a few months ago.  With inflation running at near its 2 per cent target and a labour market that appears to have stalled last month, along with falling population growth, there is a strong argument for policy rates to be even lower, though such a path is complicated by the inflationary impact of retaliatory Canadian tariffs. Indeed, the Bank used its statement to caution that monetary policy cannot offset the impacts of a trade war and that it can and must ensure that higher prices do not lead to ongoing inflation.  Given that caution, future cuts to the Banks policy rate will be highly dependent on the evolution of inflation and inflation expectations. 

For more information, please contact: Gino Pezzani.

A growing trend online and offline is people going "no contact" with friends or family. A Cornell University study found 27 percent of American adults are estranged from at least one family member.

While some people cut ties to escape abuse or political conflicts, others seek to rebuild relationships later. Here are tips for reconnecting:

• Let go of the past: Avoid dwelling on reasons; complete understanding might never come.

• Listen openly: Hear that person's side without defending yourself and acknowledge their frustration.

• Apologize: Apologies show strength and foster healing.

• Be your current self: Stay true to who you are now and avoid old family roles or dynamics.

For the complete news release, including detailed statistics, click here.

Vancouver, BC – March 2025. The British Columbia Real Estate Association (BCREA) reports that 4,947 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) Systems in February 2025, down 9.7 per cent from February 2024. The average MLS^® residential price in BC in February 2025 was down 2.4 per cent at $964,349 compared to $987,811 in February 2024.

The total sales dollar volume was $4.8 billion, an 11.8 per cent decrease from the same time the previous year. BC MLS^® unit sales were 28 per cent lower than the ten-year February average.
 
“After several months of growing momentum, market activity was hampered in February by the uncertainty surrounding tariffs,” said BCREA Chief Economist Brendon Ogmundson. “Apprehension from prospective buyers will continue amidst this unfortunate trade war but may be somewhat tempered by lower interest rates on the horizon.
 
Year-to-date, BC residential sales dollar volume is down 4.5 per cent to $8.8 billion, compared with the same period in 2024. Residential unit sales are down 2.8 per cent year-over-year at 9,175 units, while the average MLS^® residential price is also down 1.8 per cent to $958,366. 

Additional economics information is available here on BCREA's website. 

For more information, please contact: Gino Pezzani.