Naru Menon’s Blog
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Homebuyers hold back in Greater Vancouver, while Fraser Valley sees modest bump
In May 2025, Greater Vancouver Realtors (GVR) saw a 26% rise in active listings and a 18.5% year-over-year drop in sales, indicating a balanced market with stable prices but a buyer's edge in single-family homes. Fraser Valley Real Estate Board (FVREB) experienced a 13% sales increase from April but remained below last year, with a…
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What Could Lead the BoC to Hike Rates in 2025?
Will the Bank of Canada hike rates in 2025? The answer likely lies in economic uncertainties and inflation growth. The BoC focuses on growth and inflation control, keeping the target range at 1%-3%.
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A New Chapter in Canadian Housing
Government targets 500K new homes annually, signaling bold action to tackle housing affordability and supply challenges. Proposed incentives like tax exemptions and interest-free loans aim to empower first-time buyers across the country.
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What Follows the Boc’s Rate Cut Pause?
BoC ends 2.25% rate-cutting cycle, citing inflation risks and global trade uncertainty. Unpredictable US tariffs raised inflation fears and made GDP projections unusually difficult.
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Why Is BC Losing 15K Housing Starts?
B.C. experienced a sharp decline: starts fell by 15,400 units to 36,000. The drop may reflect affordability issues, rising costs, and slowing population growth.
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Mid-Q2: Greater Vancouver Real Estate Faces Sharp Correction
Greater Vancouver’s average home price was $1,266,441 in May 2025, ↓ 5.9% yearly. Benchmark home price was $1,177,100, ↓ 2.9% yearly and ↓ 0.6% MoM.
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Unsold condos in Metro Vancouver pile up despite Canada’s housing shortage
Over 2,000 newly built condos in Metro Vancouver remain unsold, with numbers expected to reach 3,500 by year-end due to economic uncertainty and affordability issues. High condo listings and slowed pre-sales have led some developers to pause or cancel projects. Experts cite low affordability and trade-related economic concerns. The government aims to increase housing starts…
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Greater Vancouver Home Prices Set to Rebound by 2026
Greater Vancouver’s home sales will decline 1.6% to about 26,000 units in 2025. Average home prices in Greater Vancouver are expected to drop 2.1% in 2025.
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BC Takes Action on Short-Term Rentals
All short-term rental hosts in B.C. were required to register their listings by May 1, 2025. Over 20K listings are registered, indicating many units have shifted to long-term rental housing.
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BC Leads Canada With Highest Minimum Wage
BC's minimum wage ↑ 2.5% to $17.8/hour on June 1, 2025. BC currently has the highest minimum wage among Canadian provinces.