APRIL 2025 Vancouver Real Estate Market Update - Sales PLUMMET скачать в хорошем качестве

APRIL 2025 Vancouver Real Estate Market Update - Sales PLUMMET

Home sales in Vancouver just hit their lowest point in six years, marking yet another painful milestone in what’s quickly becoming one of the most uncertain and volatile real estate markets in decades. And if you’re wondering why this is happening, just look at the bigger picture—consumer confidence in Canada just hit an all-time low. That’s right—lower than the depths of the Great Financial Crisis, and worse than the early pandemic panic. Business confidence is in the same horrific state, and these weren’t even recorded after Trump’s tariffs took effect. With those now in place, pressure is mounting on the Bank of Canada as it faces a nightmarish economic puzzle: GDP is rising, inflation is expected to heat back up, the housing market is crumbling, and record levels of debt are coming due for renewal. Meanwhile, the March real estate data for Vancouver has just dropped, and we’re breaking down all the key metrics—from collapsing sales volumes to rising inventory to surprisingly resilient home prices—and analyzing what all this means for home values for the spring 2025 market. Let’s talk inflation. March came in hot at 2.6%, a big jump from the previous month’s 1.9%, and far above expectations. Mortgage interest costs have fallen again for the 18th straight month, but inflation is now at a seven-month high, forcing the Bank of Canada into a tightening corner. And behind the scenes, 45% of businesses expect to raise prices more than 5% this year—double what it was just six months ago. While tariffs may warrant easing, inflation is pushing back hard, and markets no longer expect a rate cut in April. Meanwhile, GDP rose again—up 0.4% in January after a 0.3% climb in December—led by energy and mining. While the headline looks positive, remember: per capita GDP has been in decline for over two years. The BOC may take these numbers at face value, but it’s a fragile recovery at best. South of the border, the U.S. Fed held its rate at 4.5% last month, with possible cuts later this year. But Powell made it clear: if inflation stays sticky, high rates could persist. Their GDP forecast was revised down and inflation up. The takeaway? If the Fed cuts, Canada could follow—especially as our economic risks grow and global trade uncertainty lingers. In the mortgage world, renewals are surging—up 110% year-over-year—and projections vary widely. BMO sees rates at 2% by end of 2026, while Scotia sees no cuts until 2027. The big banks don’t agree, but they’re all aligned on one thing: no hikes are coming. That’s welcome news for those riding variable rates or planning their next move. New housing supply is in freefall. National housing starts dropped 4% month-over-month and 12% year-over-year, but BC is the epicenter of the downturn: starts plunged 22% just last month and are down 32% from last year. In Vancouver alone, they’re off by 18%. This comes at a time when building permits are at rock bottom—meaning even fewer homes will be built in the years to come. While inventory is high now, the longer-term risk is a devastating shortage. Just look at the national data going back to 1972: while population growth has doubled, housing completions have actually declined. CMHC now estimates we’ll be short 3.5 million homes by 2030. Add affordability and suitability issues, and we’re heading toward a full-blown housing crisis. No wonder policy shifts are coming fast and furious—GST removed, capital gains hikes shelved, development fee reforms floated—but many fear it’s too little, too late. The mortgage and housing data reflects this. Prices, surprisingly, are still climbing. March saw a $19,400 gain in the HPI, up 1.6%, with median and average prices both rising as well. How? The “good ones” are selling, skewing the metrics upward—even as total sales volumes cratered to just over 2,000, a 13% drop year-over-year and 37% below the 10-year average! Inventory is piling up, listings are flooding the market, and yet home prices haven’t cracked—yet. This all paints a chilling picture. Economic policy failures, geopolitical tension, rate uncertainty, and supply shortages are coalescing into one of the most complex housing backdrops in modern Canadian history. If you’re a homeowner, buyer, or investor trying to navigate these waters, buckle up and talk with us—it’s going to be a bumpy ride. _________________________________ Book A Real Estate Consultation: 📆 https://calendly.com/thevancouverlife 🏡 Visit our website to see active listings and valuable Real Estate information 🏡 → The Vancouver Life: https://bit.ly/3yN25V7 💥 Follow us on Social Media 💥 → Instagram: https://bit.ly/3jSkRo1 → Facebook: https://bit.ly/3g05bxK → Twitter: https://bit.ly/3xMGFpZ The Vancouver Life Real Estate Group are licensed Real Estate Agents at eXp Realty Vancouver 🏆 Top 1% Presidents Club 2024 🏆 Top 10% Medallion Club Members 2019 to 2024 🏆 Over $450,000,000 in sales www.thevancouverlife.com _________________________________