Home sale trend stabilizing in June!

After a turbulent first half of the year, home sales registered on the MLS® across Metro Vancouver are showing emerging signs of a recovery, down ten per cent year-over-year – halving the decline seen last month. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,181 in June 2025, a 9.8 per cent decrease from the 2,418 sales recorded in June 2024. This was 25.8 per cent below the 10-year seasonal average (2,940). 

“On a trended basis, signs are emerging that sales activity is rounding the corner after a challenging first half to the year, with the year-over-year decline in sales in June halving the decline we saw in May,” said Andrew Lis, GVR’s director of economics and data analytics. “If this momentum continues, it may not be long before sales are up year-over-year, which would mark a shift toward a market with more demand than the unusually low demand we’ve seen so far this year.” 

There were 6,315 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2025. This represents a 10.3 per cent increase compared to the 5,723 properties listed in June 2024. This was 12.7 per cent above the 10-year seasonal average (5,604). 

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,561, a 23.8 per cent increase compared to June 2024 (14,182). This is 43.7 per cent above the 10-year seasonal average (12,223). 

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2025 is 12.8 per cent. By property type, the ratio is 9.9 per cent for detached homes, 16.9 per cent for attached, and 13.9 per cent for apartments. 

Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

“As home sales regain their footing, inventory levels aren’t building as quickly as we’ve seen lately,” Lis said. “Most market segments remain in balanced market conditions, which has generally kept prices trending sideways since the start of the year. With over 17,000 listings on the market right now, and with mortgage rates down around two per cent since last summer, buyers are enjoying some of the most favorable conditions seen in years.” 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,173,100. This represents a 2.8 per cent decrease over June 2024 and a 0.3 per cent decrease compared to May 2025. 

Sales of detached homes in June 2025 reached 657, a 5.3 per cent decrease from the 694 detached sales recorded in June 2024. The benchmark price for a detached home is $1,994,500. This represents a 3.2 per cent decrease from June 2024 and a 0.1 per cent decrease compared to May 2025. 

Sales of apartment homes reached 1,040 in June 2025, a 16.5 per cent decrease compared to the 1,245 sales in June 2024. The benchmark price of an apartment home is $748,400. This represents a 3.2 per cent decrease from June 2024 and a 1.2 per cent decrease compared to May 2025. 

Attached home sales in June 2025 totalled 473, a 3.7 per cent increase compared to the 456 sales in June 2024. The benchmark price of a townhouse is $1,103,900. This represents a three per cent decrease from June 2024 and a 0.3 per cent decrease compared to May 2025.

Bank of Canada governor Tiff Macklem said there was a “clear consensus” among monetary policymakers to leave the policy rate unchanged at 2.75 per cent as they wait for more information on the economic impact of tariffs.

The British Columbia Real Estate Association says housing activity slowed last month. According to a new report, residential home sales were down nearly 10 per cent last month compared to the year prior.

The average Multiple Listing Service residential price in B.C. was also down 2.4 per cent to $964,349 compared to $987,811 in February 2024.

Total sales were also down nearly 12 per cent compared to 2024, and down 28 per cent from the ten-year February average.

Will interest rate cuts by the Bank of Canada stimulate Buyers and sales?  Stay tuned.....

On June 1st, Roma and Jack's Riders will ride 34km or 63km to raise funds and awareness for Multiple Myeloma. In support of Roma and Jack’s journeys with cancer, we aim to raise money towards advanced treatment options, better access to care, and impactful research initiatives. Our goal is to help Canadians living with myeloma enjoy longer, better lives and, ultimately, find a cure.

Thanks to your generous support, our team has raised $47,960 over the past 3 years! This year, we’re excited to announce our partnership with The Juice Truck, if you would like to help out this worthy cause, please dontate to the link below:

The 25-basis point cut comes as the Bank of Canada forecasts GDP growth will strengthen in 2025 if there is no trade war with the United States.

In line with CREA's advocacy efforts, as of today Nov 21/24, the Office of the Superintendent of Financial Institutions (OFSI) has eliminated the mortgage stress test for uninsured renewals, enabling borrowers to switch lenders while maintaining their loan amount and amortization period. Insured borrowers are already exempt.