With new listings outpacing demand to start 2025, price trends saw little fluctuation in January across all segments, with the market overall standing in balanced conditions. Our 2025 forecast calls for moderate price growth by the end of the year, but we have cautioned that shocks to the economy such as those currently threatening Canada via tariffs from the US could impact these estimates. Going forward, whether these tariffs actually come into force, the duration they remain in place, and the degree to which Canada retaliates will determine the impact to the housing market in our region in the months ahead,
if any.

Andrew Lis,
GVR’s director of economics and data analytics