Buying a first home is a big financial milestone—and for many, it’s also a challenge to save enough for the down payment. Rising home prices and borrowing costs have turned down payments into a serious financial challenge for many Canadians. Fortunately, if you and your partner each have $75,000 saved, you’re already on the path…
In today’s Canadian housing market, the dream of homeownership remains alive—but for a growing number of first-time buyers, that dream is only possible with a family safety net. According to the 2025 CMHC Mortgage Consumer Survey, more Canadians are entering the market for the first time, but they’re not doing it alone. From gifted down payments…
Vancouver is known around the world thanks to top attractions like the Honda Celebration of Light and award-winning dining spots. However, a new ranking has revealed the city is slipping a bit compared to its peers. The Oxford Economics Global Cities Index has released its report for 2025, which is a holistic ranking of the 1,000 cities included in its Global Cities Forecasting Service. Cities are scored across five categories to achieve a well-rounded comparison of locations. The five categories are Economics, Human Capital, Quality of Life, Environment, and Governance. Vancouver has made the list once again this year; however, it has slipped a few spots down the newest global ranking. Kenneth Chan/Daily Hive Vancouver came in 20th place last year, ranking 35th in economics, 33rd in human capital, 78th in quality of life, 149th in environment, and 52nd in governance. In 2025, Vancouver dropped 17 places to land in 37th place, with rankings dipping in three categories: 53rd in economics, 52nd in human capital, and 186th in quality of life. However, the city’s score jumped in two categories: it ranked 61st in environment and 27th in governance. “Arguably one of the most picturesque cities in the world, it is no surprise that Vancouver is such an attractive location for many Canadians and international migrants,” wrote Oxford Economics Global Cities Index in its report. “For those who can handle the steep housing costs, there are few other cities that can match Vancouver’s economic strength and human capital.” Charles HHuang/Shutterstock The Global Cities Index covers the 1,000 largest cities in the world, which are located in 163 different countries, including 103 cities in Canada. Toronto ranked as the highest city in Canada on the list at #20, with Montreal coming in at #43, and Ottawa-Gatineau at #88. Calgary landed in #50 and Edmonton settled even further down on the list, coming in at #131. You can check out the full ranking online. With files from Laine Mitchell
Determining if condominium living fits with your lifestyle, personality and financial situation. Wondering whether or not condominium living really is the right choice for you? You may love the idea of ditching your snow shovel and lawn mower when you move into a condo, but you might not be so happy about leaving your satellite…
Real estate experts say there is another indication that the real estate market in Greater Vancouver is changing. Vancouver realtor and investor, Steve Saretsky, says the market is becoming so saturated that realtors are turning down listings. “The inventory is stacking up, it’s not selling,” he said. “Which is to say, there are a lot of realtors out there working for free.” Home sales in Greater Vancouver are at their lowest since 2020 and Saretsky said sellers’ expectations in a buyers’ market are not always aligned with reality. This means that listings that may have sold fast and over the asking price now might take more resources and time to close the deal — if at all. Story continues below advertisement 1:36 ‘Sign’ of the times: B.C. real estate signpost company offers credit for return of posts Realtor Roman Krzaczek told Global News that people need to adjust their expectations a little bit. Get daily National news Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day. “It seems like there’s a lot of listings that are being relisted because they didn’t sell last year and people are expecting the same price and that’s not very realistic in today’s market,” he said. Krzaczek said many people do not realize that realtors have to put time and money into selling a home, including spending money on marketing materials. “It cost me about $2,000 to list the property and it’s a lot of work; (it) takes a couple days to get the whole package put together,” he added. He said he has to look at other properties that are available, take photos of the property to list it and complete any reports as needed. Story continues below advertisement Krzaczek said he recently lost a listing because the seller wanted to post the property for higher than what Krzaczek thought it was worth. “Somebody else listed the property now,” he said. “So I wish them luck. Great people. I really hope that they sell because that’s, you know, they really need to move.” Trending Now 2:07 Metro Vancouver condos sitting empty amid housing crisis He added on Monday he saw a listing on Quadra Island drop from the $1.4 million list price to $1.3 million. “My listing, we recently dropped the price from $1.2 (million) to $995,000,” he added. “Big drops in price and beautiful properties, water or oceanfront properties. So there’s definitely some of that happening. And as long as we have clients, sellers that are realistic and they do listen to us, pricing is not a science, it’s more of an art form and I’m fully immersed in the market… If it’s priced well, it will sell. If it is not, it probably won’t sell. Not every listing sells.” Story continues below advertisement Krzaczek said he has not seen price drops like this in the market since he started in the business 10 years ago. “Usually a price drop is $10, $20, $30,000,” he said. “But $130,000 $200,000 drops, that’s huge. So I don’t know what’s happening but it looks like there’s some kind of a price adjustment happening right now.” © 2025 Global News, a division of Corus Entertainment Inc.
Call it a sign of the times? “There are so many listings right now in the Metro Vancouver area that there’s not enough signposts,” Kaitlyn Herbst, realtor with MRKT Real Estate Group said. “The company is actually offering, if we take down the signpost, if it’s already sold property and give them their signpost back so that they can use it for a new client, they will give us money back on our next signpost.” Herbst said in April there were more than 15,000 listings in the Greater Vancouver area. “That’s a lot of signs,” she said. “I mean, condos don’t always have signs and stuff, but buyers, they’re just not showing up. They’re a little bit uncertain with everything that’s going on and kind of taking a little more time to look.” Story continues below advertisement 2:07 Metro Vancouver condos sitting empty amid housing crisis Real estate experts say it has been an interesting start to the year in Greater Vancouver. “What we expected to happen was the market to be a little more active than what we’ve seen so far,” Andrew Lis, director of economics and data analytics at Greater Vancouver Realtors, told Global News. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. “Our forecast called for some growth in sales for the year, but sales have come in pretty slow since the beginning of the year.” Lis said it could partially be due to the uncertainty brought about by U.S. President Donald Trump’s tariffs, the political uncertainty around the Canadian election and the federal government’s overall housing strategy plan. “So it could be a number of factors keeping buyers on the sidelines, but things have been sort of quiet on the buy side,” Lis said. Story continues below advertisement “On the sell side, we have a lot of people coming to market with their property. So we’re actually at a point right now where we have some of the highest levels of inventory we’ve seen in almost over a decade. So a really interesting time right now for the market.” Lis said that sales are down about 24 per cent year-over-year. “They’re hanging below our 10-year seasonal averages, you know, around 20, 30 per cent. They’ve kind of been around those levels for some time.” Lis said that the market started to pick up late last year but has been slower in the first part of 2025. “On the inventory side, however, what we’ve seen is a pretty significant increase in inventory levels in our region,” he added. “Our inventory level in the Greater Vancouver region that we track at our board has surpassed the 16,000 mark, which we have not seen in over about a decade.” Trending Now 4:55 New cabinet role puts former Vancouver mayor back in the spotlight Lis said that for buyers, it’s a good thing as there is finally some choice across the board — condos, detached houses and townhouses. Story continues below advertisement However, they have seen more sales of detached homes than attached or apartments. “Generally, price trends have been fairly flat over the past few months and even actually over the last couple of years,” Lis said. “There’s some very small minor ups and downs — a per cent here, up, down a per cent there — but generally the price trend has been flat and that’s been pretty much true across all product types.” Herbst said she has never seen a market like this. “When a couple years ago there was no subjects, you were buying places, sight unseen,” she said. “I had clients buy homes I had never actually seen. Subject free, all that. Now we’ve got, ‘Okay, we’ll come back and see you a second time’.” Herbst said there are even sellers adding incentives to lure in prospective buyers. “There is one home (in Langley) that is for sale that the realtor is offering a Disney Cruise to the buyers of this family home. A four-person Disney cruise,” she said. “It’s not cheap, but it’s a way to make it stand out. It’s a way to get those families through the door. And there’s a lot of options for those buyers. So it’s comparing apples to apples, but this one I get to go on a trip with my family.” © 2025 Global News, a division of Corus Entertainment Inc.
If you’ve been hesitating to buy or sell a home because of interest rates, the economy, or upcoming elections, you’re not alone. Uncertainty can make any major financial decision feel risky. But what if the factors we focus on—like market conditions and economic forecasts—aren’t as important as we think? Some of the most successful investors, from Warren…
When you’re buying your next home after selling your current one, timing is everything. It’s the difference between a smooth handoff—and scrambling to find a place to stay in between. That’s why creating a clear moving timeline is so important. With the right plan, you can avoid unnecessary stress, minimize costs, and make your transition…
Posted April 30, 2025 4:15 pm. Last Updated April 30, 2025 4:16 pm. The B.C. housing market is softening, with buyers pulling back on sales due to concerns around the Canadian economy and the U.S. trade war. The BC Real Estate Association released its 2025 second quarter housing forecast Wednesday. The association says it expected a strong 2025 for sales, but that hasn’t happened. Chief Economist Brendon Ogmundson says buyers have pulled back in the first quarter of the year. “We were expecting something close to a normal year. So that would be around 85,000 sales. Instead, we’re running 20 to 25 per cent below that pace. So sales have really, really come off. Buyers just don’t have a lot of confidence right now because of all that uncertainty,” said Ogmundson. He says the inventory of homes has reached the highest level in about a decade. “And that means lots of choice for buyers, lots of time for buyers — not a whole lot of urgency. Sellers are also not in a hurry to lower their prices,” he explained. But Ogmundson explains that increased supply hasn’t done much to change prices. “[Sellers] seem very, very patient, so we’re not seeing a whole lot of movement on the price side. Prices have been essentially flat for the past 18 months — down a little bit in more expensive markets, Fraser Valley and Vancouver, but down by [around] one to two per cent.” He says B.C. has “all the ingredients” for a much stronger market, and sales were up in the last quarter of last year. “And now, suddenly, they aren’t. The only thing you can really see that’s changed is a lot of uncertainty about the future of the economy.” —With files from Sonia Aslam