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Highlights:

• Canadian fixed mortgage rates face upward pressure as geopolitical instability sends oil soaring.
• Tariffs and the Iran conflict are driving growth and inflation concerns.

The Bank of Canada is walking a tight rope of double-sided risks.

Canadian retail sales increased by 1.1 per cent to $70.7 billion in January compared to the previous month. Retail sales were 1.5 per cent higher compared to the same last year. Furthermore, core retail sales, which exclude gasoline and automobile items, increased by 0.9 per cent in January. In volume terms, adjusted for rising prices, retail sales were up 1.0 per cent in January.

Retail sales in British Columbia were up 0.2 per cent in January month-over-month and rose by 1.9 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were largely unchanged from the prior month and were 2.2 per cent above the level of January 2025.

January’s print marks a strong start to the year for retail activity as other aspects of the economy continue to struggle. Growth was found in six out of nine subsectors, resulting in one of the largest monthly increases in overall retail sales in recent months. After its fourth consecutive rate-hold on Wednesday, the Bank of Canada faces a quandary of balancing inflationary pressures from rising oil prices with a struggling labour market and economy. Ultimately, the Bank’s policy direction hinges on its perceived persistence of the supply shock from the US-Iran war, which, unfortunately, remains uncertain.

April arrives with a noticeable shift. The air feels lighter, color starts to return, and everyday life seems to stretch out a little more. It is a month that reminds us how good it feels when things begin to open up again.

There is an energy in April that feels hopeful without being demanding. It encourages us to step outside more, to re-engage with our surroundings, and to welcome change with a sense of curiosity rather than urgency. Even simple routines feel refreshed when the season itself feels new.

April is also a natural time for clearing space. Not just closets or calendars, but mental space too. Letting go of what feels heavy. Making room for what feels energizing. Choosing what deserves your attention as the year continues to unfold.

As the days grow brighter, my hope is that you allow yourself to enjoy the small signs of renewal all around you. April does not ask for perfection. It simply invites you to show up and take part in what is unfolding.

Wishing you a month filled with fresh air, new perspective, and moments that feel genuinely uplifting.

Kind regards,

Gino Pezzani
Your Real Estate Consultant For Life

Owning a pet may do more than brighten your day. It could also help keep your mind sharp. A study from the American Academy of Neurology found that long-term pet ownership is associated with better cognitive health and happiness.

The study analyzed data from more than 1,300 adults in the University of Michigan’s Health and Retirement Study. According to CNN, the strongest benefits appeared among people who had owned a pet for five years or more.

Dogs and cats were the most common pets studied, but people who owned birds, fish, or reptiles also showed cognitive benefits, suggesting companionship in many forms can be helpful.

Researchers emphasize that the findings show an association, not proof of cause and effect. However, prior research shows pet ownership can reduce stress, blood pressure, and cortisol levels, which may support brain health.

Premium credit cards love to advertise big rewards: Uber credits, airport lounges, luxury hotels, even four-figure welcome bonuses. It can feel like you are missing out if you do not have one.

But those perks come at a cost. Annual fees are steep. The American Express Platinum now costs about $895 a year, and Chase’s Sapphire Reserve runs roughly $795, according to The Wall Street Journal. Ultra-premium cards like the Amex Centurion charge thousands more.

Time is the hidden expense. Comparing cards can take hours, and managing perks requires ongoing effort. According to Kiplinger.com, about 40% of card benefits go unused. 

Nick Maggiulli of Dollars and Data argues that, for most people, the payoff is not worth the hassle unless rewards are a hobby.

A simpler strategy works better. Choose one card with benefits you will actually use. If you shop on Amazon, a Prime card delivers automatic rewards. If you travel often, a travel card may be worth the effort.

The best rewards card is not the flashiest. It is the one that fits your life.

Relaxing, attractive, and highly desirable, outdoor living spaces continue to stand out as one of the smartest upgrades homeowners can make.

According to the U.S. Census Bureau’s American Housing Survey, homeowners spent about $827 billion on home improvement projects between 2021 and mid-2023. That represents a jump of more than $200 billion from the prior two-year period. Outdoor improvements are a significant part of this trend, with leisure-focused projects making up nearly 19% of all home upgrades, according to Angi.

Outdoor living has evolved far beyond a simple deck and grill. Today’s homeowners are creating spaces that feel like natural extensions of the home. These may include open-air rooms with seating, dining areas, fireplaces, or televisions. Florida rooms offer bright, climate-controlled comfort year-round, while sunrooms and solariums highlight beautiful views and bring in abundant natural light.

Enclosing a patio or deck is easier than ever. Modern enclosure systems can be customized to fit your space and budget, with options such as vaulted ceilings, skylights, tinted glass, and built-in electrical access. All-season rooms cost more but they provide the greatest flexibility for year-round use.

Whether you want a peaceful retreat, a place to entertain, or a feature that appeals to future buyers, outdoor living spaces deliver comfort, enjoyment, and lasting value.

Canadian real GDP grew by 0.1 per cent in January after increasing by 0.2 per cent in December. Goods-producing sectors rose by 0.2 per cent, while service-producing industries were largely unchanged from the previous month. Detractors from growth were led by manufacturing (-1.4 per cent), and wholesale trade (-1.2 per cent). Conversely, mining, quarrying, and oil and gas extraction (1.2 per cent), construction (1.1 per cent), and retail trade (0.8 per cent) drove January’s growth. Output for the offices of real-estate agents and brokers fell by 6.1 per cent month-over-month. Preliminary estimates suggest that real GDP by industry increased by 0.2 per cent in February. 

January's GDP data, accompanied by a strong flash estimate for February, is a pleasant surprise after the Canadian economy lost over 100,000 jobs in the first two months of the year. However, this report reflects conditions prior to the Iran conflict, which lies at the heart of the Bank of Canada’s next meeting decision. Looking ahead, the Bank’s forward guidance during its next rate announcement will dictate the likely trajectory of monetary policy amidst the Middle Eastern conflict. Nonetheless, we tentatively expect a fourth consecutive rate hold as the Bank continues evaluating the length and depth of the global oil price shock, which remains highly uncertain.

When we think of spring cleaning, closets and kitchens usually come first. But refreshing your furniture and carpets can make an instant difference, leaving your home feeling lighter, brighter, and cleaner.

Start with your vacuum.

Before you clean anything else, make sure your vacuum is ready to do its job. Empty the bag or canister, replace filters if needed, and check hoses for clogs. Take a minute to remove hair and threads wrapped around the brush so you are actually picking up dirt, not just pushing it around.

Vacuum absolutely everything.

Go beyond the floors. Vacuum carpets, rugs, baseboards, and all upholstered furniture. Remove couch cushions and use the wand to reach into crevices where crumbs and dust love to hide. You might be surprised by what you find.

Refresh cushions and pillows.

If cushion covers are removable, wash and dry them according to the label instructions. This simple step can completely change the look and smell of a room. While you are at it, replace any flattened or worn-out throw pillow inserts for an instant upgrade.

Tackle stains and odors.

Spot-clean carpet stains as soon as you notice them. For lingering smells, sprinkle baking soda generously over carpets and rugs, let it sit for a few hours, then vacuum it up. For tougher stains or heavily used areas, consider renting a steam cleaner or hiring a professional carpet cleaning service.

Don’t forget the windows.

Clean windows let in more light and make everything feel fresher. Wash or dry-clean curtains, wipe down blinds and shades, and clean the glass and windowsills to remove built-up dust.

Give throw rugs some love.

Take rugs outside and shake out dust and dirt. If they are washable, follow the care instructions and give them a proper cleaning before putting them back in place.

A little extra effort on your soft surfaces can completely change how your home feels this spring. Cleaner carpets, fresher furniture, and brighter windows all add up to a space that feels renewed and ready for the season ahead.

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

Your dog may be more wolf than you think. Research from scientists at the Smithsonian and the American Museum of Natural History shows that most dogs living today still carry traces of wolf DNA.

Dogs are believed to have diverged from wolves about 20,000 years ago, and that ancient connection remains visible in some breeds. Purpose-bred wolfdogs, such as the Czechoslovakian Wolfdog and Saarloos Wolfdog, have the highest levels of wolf ancestry, with 23 to 40 percent of their genomes linked to wolves.

Wolf DNA is more common in larger and working breeds, such as sled and hunting dogs, but size alone does not tell the whole story. Large guardian breeds, think Neapolitan Mastiff and Bullmastiff, show no detectable wolf ancestry, while even the tiny Chihuahua carries about 0.2 percent.

Terriers, gundogs, and scent hounds tend to have the lowest levels of wolf ancestry on average.

So whether big or small, many dogs seems to carry a little echo of the wild.

The most popular apple in America isn’t just a fruit; it’s a full-blown diva. One farmer told The Wall Street Journal it’s the most finicky apple on the market, and Honeycrisp wears that reputation proudly.

With its super-sweet flavor, razor-sharp crunch, and delicate, paper-thin skin, the Honeycrisp delivers star power in every bite. It’s a showstopper, and it knows it.

But glamour comes at a cost. That thin skin punctures easily, forcing farmers to harvest each apple by hand. Honeycrisps loathe storage, bruise at the slightest mishandling, and require constant monitoring for disease. To achieve their signature red-pink glow, each apple is wrapped in reflective sheeting, essentially a couture jacket for fruit.

High maintenance? Absolutely. Worth it? The public answered with a yes. Honeycrisp has surged past Red and Golden Delicious, Gala, Granny Smith, and Fuji to become the undisputed apple of our eye.

Arbor Day is the perfect reminder that a single tree can make a lasting difference. The right tree adds beauty to your landscape, boosts curb appeal, and can even increase the value of your home. With a little planning, planting a tree becomes an investment you and future generations can enjoy.

Before you dig in, choose a location that gives your tree room to thrive. Be mindful of nearby buildings and power lines, and take a moment to picture how your tree will grow over time. Asking the right questions now helps ensure years of shade, color, and enjoyment.

Consider these helpful points when selecting your tree:

Size and shape matter. How tall and wide will the tree become? Columnar trees are great for smaller spaces, while round or V-shaped trees create generous shade for yards and gathering areas.

Seasonal changes add character. Will the tree drop its leaves in winter? Is it suited to the temperatures in your area?

Growth pace tells a story. Fast-growing trees reward you with shade and beauty in just a few years, while slower-growing varieties often live longer and become treasured landmarks.

Match the tree to the site. Make sure the soil, sunlight, and moisture conditions fit the tree’s needs so it can grow strong and healthy.

Think about flowers and fruit. Blooming trees can be stunning in spring, but consider where petals or fruit might fall, especially near sidewalks or driveways.

Planting a tree is an act of optimism. This Arbor Day, take pride in choosing a tree that fits your space, your lifestyle, and your vision for the future. It’s a small step that leaves a meaningful, living legacy.