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Canada's housing market has cooled off a bit, with activity down roughly 7% year-over-year and national sales dipping just under 1% month-over-month. Buyers are clearly weighing the impact of ongoing trade tensions, shifting oil prices, and those persistent inflation concerns. Higher Canada bond yields have nudged fixed mortgage rates upward, adding another layer of pressure for anyone considering a move. Despite all this, industry experts anticipate that activity will remain strong heading into late Q3 and Q4. The Bank of Canada has kept its policy rate steady, while inflation has hovered around 3% for the second month in a row. Some economists are predicting we could see rate cuts as early as 2027 if conditions improve, though for the rest of 2026, the outlook is for either no change or a minor hike. A new US trade deal could be the biggest catalyst for a market rebound. For buyers and sellers in areas like Surrey, Vancouver, and Abbotsford—where I've been helping clients navigate these changes—it's smart to keep a close eye on the next 6 to 12 months and be ready to act when the time is right.

We’re seeing some notable shifts in the Canadian real estate landscape: in mid-Q3, home sales dipped by about 1% month-over-month and nearly 7% year-over-year. The price index held steady compared to the previous month, but has slipped roughly 3% from last year. Interestingly, new property listings made a comeback, rising about 3% after several months of decline. The sales-to-new listings ratio also eased to around 49%, further below the long-term national average of 55%. Economists point to challenges like economic uncertainty, inflation risks, and higher mortgage rates—driven by rising bond yields—as major influences on buyer activity. At that point, markets were anticipating a 60% chance of a rate hike in early Q4, with expectations of over a percentage point of tightening by 2027. Navigating these market dynamics requires careful attention—especially in areas like Surrey, Vancouver, and Burnaby, where I’ve helped clients adapt to changing conditions.

The perfect opportunity to embrace your inner "foodie" and unbutton your pants at the dinner table!In Canada, post-Thanksgiving is all about creative cranberry sauce solutions. Cranberry sauce pancakes, anyone?It's that time when multiple ovens are a blessing. Turkey, pies, casseroles – less stress!

Canada’s housing affordability challenge is even steeper than many realize. According to the national housing agency, restoring pre-pandemic affordability requires between 417,000 and 469,000 new homes built every year until 2036—a target that far exceeds current construction trends. Even now, the national supply gap sits at 187,000 to 238,000 homes annually over the coming decade. Construction is expected to slow more quickly than demand, which puts affordability goals at risk and makes the current market downturn a critical factor to watch. Most new homes in progress are already tied to existing projects, so the pace of new builds would need to double to meet the country’s needs. As someone who has marketed homes across Surrey, Vancouver, Burnaby, and beyond, I see firsthand how these supply constraints impact buyers and sellers alike. Addressing this shortage is essential if we hope to see meaningful change in affordability in the years ahead.

As someone who has helped clients buy and sell homes in Abbotsford, Surrey, Vancouver, and beyond, I’m seeing firsthand how Canada’s recent affordability improvements feel increasingly uncertain. The numbers say it all: to get back to pre-pandemic affordability by 2036, we’ll need 417,000 to 469,000 new homes started each year. Yet, most new builds these days are rentals, with ownership housing construction slowing down significantly. While a dip in population growth has temporarily made things seem more affordable, the pace of new construction has actually dropped even faster than demand. That means when the market heats up again, we could be left with an even bigger housing shortage—especially for those hoping to own. For lasting affordability, it’s vital to keep ownership-focused building moving forward, so future buyers aren’t facing even steeper hurdles.

Canada’s housing market is gradually moving from a period of sharper declines into a more balanced phase, with signs of recovery emerging in sales, inventory, and early price trends. For 2026, national sales are expected to dip about 4% to roughly 453,000 homes, with average reference prices easing by 2% to approximately $794,000 before a more solid rebound in 2027. The following year, forecasts suggest sales will rise by around 7% to 484,000 units, with benchmark prices nudging up less than 1% to about $801,000. It’s important to note that this recovery isn’t uniform—markets in Ontario and British Columbia, including areas like Vancouver, may experience a slower pace, and increased condo supply in Toronto and Vancouver could continue to put pressure on those segments. For buyers and sellers in Metro Vancouver, Burnaby, Surrey, and surrounding neighborhoods, these shifts represent an evolving landscape—one that’s moving from correction toward recovery, not an outright boom. This environment may offer more strategic opportunities as conditions stabilize.