The start of 2025 marked a noticeable shift in British Columbia’s housing market compared to a year earlier, with home sales slowing and listings increasing. Altin Yousefi : RE/MAX Crest Realty : Search all listings

📉 Sales Slowdown

While Q1 2024 saw sales rise 8.9% from the previous quarter, Q1 2025 experienced a sharp 13.3% drop from Q4 2024, and a 5.1% decline year-over-year. This slowdown came alongside increases in mortgage arrears (0.15% → 0.19%) and unemployment (5.5% → 6.0%).

📈 Inventory Growth

New listings in Q1 2025 jumped 12.8% from Q4 2024, while active listings surged 12.4% quarter-over-quarter and 27.0% year-over-year. Months of supply rose from 5.6 to 7.8. The sales-to-new-listings ratio fell to 38.1%, highlighting weakening buyer demand relative to rising supply.

💰 Price Softening

The Home Price Index declined 0.4% in Q1 2025 and was 1.3% below year-ago levels. Home construction also slowed, with a minor 0.5% quarterly decline and just 0.8% annual growth, down from 19.5% a year prior.

🧑‍🤝‍🧑 Population Growth Slows

Population growth also decelerated significantly—from 3.3% y/y in early 2024 to just 1.7% y/y in early 2025—further easing demand pressures.

Inventory Growth Surpasses Sales Decline In BC Residential Market