b'HOUSING MARKETHOUSING SNAPSHOTBy Kelly ParkerWith the world seemingly in flux, housing markets across Canada continue to respond to the constant ebbs and flowsJ ust like pretty much everything elsewhole economy changes for Canadians,youre able to negotiate, which is fantastic, in the last year or so, with so muchsays Ma. Even though there were a lot ofand do proper checks like a home inspec-in the world seemingly in flux,Canadians that saved money to buy thistion and things like that.Canadas housing markets are alsoyear with interest rates lower than before, transitioning. Changes to federal immigra- many have put buying a home on hold. DIVIDED MARKETtion policy as well as other economic andOverall, recent numbers show that season- A more regional breakdown begins on the demographic shifts, combined with theally adjusted home sales were downWest Coast, where Vancouver experienced influence exerted by our southern neigh- slightly, but those declines have beena months-long, broad-based slowdown bour, all contribute to the current picture. happening since late last year. Pricesthat began in late 2024, with active list-have also continued to fall, with the MLSings up 30 per cent year-over-year, and the The biggest elephant in the room is theHome Price Index (HPI) now at its lowestHousing Price Index (HPI) experiencing its U.S. tariffs and their effect on the housinglevel since 2021in the throes of thelargest single-month drop since 2022. Ma market. Kingsley Ma, area vice presidentpandemicwith the inflation-adjusted dipbreaks down the city into two sections, east for RE/MAX Canada, notes that 2025at about 29 per cent since then, accordingand west Vancouver. In west Vancouver, was expected to be an upmarket year untilto an Edge Realty Analytics report. Thisprices have been very high for a long time the tariffs were announced, which puthas created a buyers market. even a tear-down on a standard lot can everything on hold.go for $3 millionand that has put it out Theres more inventory out there,of reach for most buyers. A lot of the buyers have become moreexplains Ma, so buyers now have the sensitive in terms of confidence in buying,opportunity to choose the home theyPrices have been dropping there, because because the simple fact is they dont knowwant, because when the markets hot,there are just no buyers, explains Ma. if theyre going to keep their jobs if theyoure just bidding. In this buyers market,You see listings that have been listed for 22PERSPECTIVESFall 2025'