Report suggests Trump Tariffs will have temporary impact on Metro Vancouver Real Estate

January 17, 2025 TruthUSA

A forecast on residential market sales in Greater Vancouver by Realtors suggests that any impact of potential tariffs from the United States would likely be short-lived.

According to the annual report from the association representing 15,000 Realtors, initial investigations and economic modeling indicate that there could be a decline in sales due to reduced cross-border investments and a drop in sales activity.

However, the report also mentions that if a recession accompanied by significant job losses occurs, the pool of potential buyers would shrink, leading to a decrease in sales for 2025.

The forecast projects a 13.9 percent increase in total sales this year, attributing it to lower borrowing costs potentially stimulating sales in the first half of the year before stabilizing to historical levels for the remainder of 2025.

It is anticipated that the average home price for all homes in the 15 represented jurisdictions, from Whistler to South Delta, will rise by 4.1 percent to reach $1.3 million.

Comparing the forecast for this year to that of 2024, the report highlights the benefit of significantly lower borrowing costs at the start of the year, which is expected to provide the necessary stimulus to achieve the price predictions for 2025.