To view the full interactive BCREA Housing Forecast, click here.

To view the BCREA Housing Forecast PDF, click here.

BCREA 2025 Second Quarter Housing Forecast

Vancouver, BC – April 2025. The British Columbia Real Estate Association (BCREA) released its 2025 Second Quarter Housing Forecast today.

Multiple Listing Service^® (MLS^®) residential sales in BC are forecast to fall 1.1 per cent to 73,650 units this year. In 2026, MLS^® residential sales are forecast to move slightly higher, rising 8.8 per cent to 80,150 units.

“Hopes for a return to normalcy in the BC housing market were swiftly dashed this year, upended by a pointless and mutually destructive trade war,” said BCREA Chief Economist Brendon Ogmundson. “While there is significant pent-up demand in the market, uncertainty about the direction of the economy is holding that demand back.”

With slower sales, provincial resale inventory is likely to average above 40,000 listings for the first time in over a decade. As a result, we expect average prices in some regions or market segments to face some downward pressure. Overall, however, we forecast largely flat average prices as sellers wait out the current environment.

For more information, please contact: Gino Pezzani.

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

Canadian real GDP decreased by 0.2 per cent in February, following a 0.4 per cent increase in January. Service-producing industries declined by 0.1 per cent, while goods-producing industries fell by 0.6 per cent. Twelve out of twenty major industries contracted from the previous month, driven by mining, quarrying, and oil/gas extraction (-2.5 per cent), construction (-0.5 per cent), and transportation/warehousing (-1.1 per cent). Finally, GDP for real-estate offices and agents was down 10.4 per cent month-over-month. Preliminary estimates suggest that real GDP increased by 0.1 per cent in March.

After a strong beginning to the year, February's GDP data pulled Canadian economic growth below the Bank of Canada's most recent quarterly projection. Additionally, this report captures newly introduced tariffs into the Canadian economic landscape, hence painting a bleak outlook for the subsequent months. During their previous meeting, the Bank emphasized the inflationary risks of tariffs while suggesting patience on policy rate adjustments according to how prices evolve. In a highly volatile environment, the Bank will closely follow next month's CPI and GDP reports to guide its next decision in June. 

https://mailchi.mp/bcrea/canadian-economic-growth-february-2025

For more information, please contact: Gino Pezzani.

Your chances of losing weight increase when your friends are shedding pounds. Your work ethic improves when you admire and model yourself after a strong-disciplinedindividual. The same results apply to self-control: When you see others setting goals and sticking to them, you’re more likely to do the same.

A study from the University of Georgia found that even thinking about someone who possesses good self-control can boost your ability to stay disciplined. This was the first study to demonstrate that self-control is contagious within social and work circles.

The effect is so strong that researchers discovered a simple flash of a name associated with high or low self-control influenced participants' behaviors, meaning that the habits and level of discipline of those around you — whether positive or negative — can subtly shape your own choices.

By exhibiting self-control, you can inspire and positively impact the people around you. If you stick to an exercise routine, then your discipline could encourage others to stay committed to their fitness, financial or career goals. Psychologists suggest that your example can help reinforce good habits in the people closest to you.

However, the opposite is also true. People with poor self-control can influence others negatively and spread such behaviors as unhealthy eating, smoking or procrastination. Because humans naturally mirror the behaviors of people around them, these bad habits can take root if left unchecked.

Ultimately, the choice is yours. You can’t blame your friend for your second helping of cake, but you can choose to surround yourself with people who inspire you to be better. The good news? You don’t need to overhaul your entire social or work life.

Simply thinking about a disciplined individual — whether a friend, mentor or historical figure — can strengthen your own self-control.

So, who will you let influence you in a positive way?

Canadian retail sales decreased by 0.4 per cent to $69.3 billion in February compared to the previous month. Compared to the same time last year, retail sales are up by 4.7 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 0.5 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales decreased by 0.4 per cent in February.

Retail sales in British Columbia were down 0.6 per cent in February from the previous month and rose by 4.4 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were down 0.9 per cent from the prior month and 6.0 per cent above the level of February 2024.

February's report marks a second consecutive month of slower sales after several months of retail growth during the fall and winter. As tariffs and their associated uncertainty continue transmitting into the economy, central bankers and economists alike will closely monitor whether this downward trend continues into the summer. 

About BCREA’s Housing Monitor Dashboard

The BCREA Economics team has created the Housing Monitor Dashboard to help REALTORS^® monitor BC’s housing market. This dashboard, which is updated monthly, provides up-to-date data on key variables for public education and use. Focuses include: 

• Resale Home Market

• Construction

• Rental Market

• Borrowing Costs

• Other BCREA Data

In the dashboard, the image and data are available for download under each chart, where possible.

Ingredients

½ cup canned chickpeas, drained and mashed

½ avocado, mashed

1 tbsp hummus

½ tsp lemon juice

¼ tsp garlic powder

¼ tsp smoked paprika

Salt and pepper to taste

1 small whole wheat or low-carb tortilla

Handful of spinach or arugula

Instructions:

In a bowl, mash chickpeas and avocado until combined but slightly chunky. Stir in hummus, lemon juice, garlic powder, paprika, salt, and pepper. Spread mixture onto the tortilla, then top with spinach. Roll up tightly, slice in half and enjoy!

Why You'll Love This:

•A plant-based protein (about 15 grams) to keep you full.

•Contains healthy fats plus fiber for energy and digestion.

•Quick, creamy and flavorful—ready in about five minutes!

Imagine this: You’re sitting on your couch, staring out the window, and doing… nothing. No phone in your hand. No emails being answered. No laundry being folded “while you relax.” Just you, the moment and maybe the sound of a bird that seems to have its entire life figured out. Now, be honest: Did your brain just revolt? Did it whisper, “But I should be doing something productive?”

We’ve been trained to believe that stillness is wasted time; every minute must be optimized, every hobby should be turned into a side hustle and every pocket of the day must be filled with something useful. But what if absolutely nothing is the most useful thing you do?

The Italians have a phrase for it: Dolce far niente—the sweetness of doing nothing. It’s not laziness; it’s an art or even a skill. It’s the ability to sit, breathe and exist without needing to check, achieve or accomplish anything.

When was the last time you let your mind wander without guiding it toward a task? When was the last time you allowed yourself to be bored, truly bored, without reaching for a screen to fill the silence?

Science has proven that our best ideas seem to come to us when we aren’t trying. Creativity thrives in stillness. Stress melts away when we stop chasing the next thing.

Nature intensifies during summer. Every plant, animal and ecosystem is in high gear and makes the most of the warmth before the cycle shifts again.

How Do Plants Survive The Heat

Although the summer sun fuels growth, too much heat can be dangerous. Plants use transpiration — a process in which they release water through their leaves — to cool themselves.

Some plants, such as sunflowers, track the sun throughout the day to maximize their energy intake. Meanwhile, desert plants, such as cacti, adapt by storing water and reducing their leaf surface area to minimize moisture loss.

Why Insects Rule The Summer

Have you ever noticed how mosquitoes, fireflies and cicadas seem to take over during summer? Warmer temperatures accelerate insect metabolism, making them more active and abundant. Fireflies use the season to flash mating signals, and cicadas emerge after years of being underground and
then fill the air with their unmistakable summer chorus.

The Science Of Summer Storms

Summer heat fuels powerful thunderstorms as warm air rises rapidly, cools and then condenses into storm clouds. The clash of humid, rising air and cooler atmospheric layers creates dramatic lightning displays and sudden downpours.

Why Summer Makes Us Happier

More sunlight boosts our serotonin, the brain’s "happiness chemical," and increased Vitamin D supports our mood and energy. Studies also show that people feel more adventurous and social during summer,
which likely is due to longer daylight hours and increased outdoor activity.

Every sunset, every gust of warm wind and every distant rumble of thunder is part of an ancient rhythm that reminds us to embrace the fleeting magic of the season before it fades again.

A market made for buyers is missing buyers. Prices have eased from recent highs, mortgage rates are among the lowest we’ve seen in years, and there are more active listings on the MLS® than we’ve seen in almost a decade. Sellers also appear ready to engage — but buyers aren’t showing up. With the current global economic uncertainty, only time will tell if they show up as they typically do in the coming months.

Read March MLS® Market Report to learn more: https://www.gvrealtors.ca/market-watc...

For more information, please contact: Gino Pezzani.

Canadian housing starts fell by 3 per cent to 214,155 units in March at a seasonally adjusted annual rate (SAAR). Starts were down 12 per cent from the same month last year. Single-detached housing starts were unchanged from last month at 49,667 units, while multi-family and other starts dropped by 4 per cent to 164,484 units (SAAR).

In British Columbia, starts rose by 5 per cent from last month to 31,145 units (SAAR) in all areas of the province. In areas of the province with 10,000 or more residents, single-detached starts rose by 3 per cent to 3,866 units, while multi-family starts increased by 6 per cent to 25,302 units month-over-month. Starts in the province were 12 per cent below the levels from March 2024. Year-to-date starts are up by 122 per cent in Abbotsford, while being down by 48 per cent in Nanaimo, 37 per cent in Vancouver, 36 per cent in Kelowna, and 33 per cent in Victoria.

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

For more information, please contact: Gino Pezzani.