GVR’s 2025 H1Residential Market Forecast:  Strong Year in 2025 for the Real Estate Market 

Our latest GVR Economics 2025 housing market forecast anticipates improved momentum, primarily driven by lower borrowing costs.

Sales are expected to continue building on late-2024 momentum, stabilizing in line with historical norms by mid-year, while prices are projected to rise moderately, supported by lower interest rates and tighter inventory levels.

·         Key factors: Fundamental factors that drive our market such as household formation, population growth, and employment growth will remain fairly strong. 

·         Lower borrowing costs are likely to further spur homebuyer demand.

·         Inventory levels for each market segment will play the deciding role as to whether prices appreciate or hold steady in 2025.

If you’d like to obtain a full report (9 pages), please contact Eva Li. 

Here below is an excerpt from an article pubished by GVR on January 3, 2025.  When you have any real estate related questions, feel free to call / text Eva Li.

Home sales registered on the Multiple Listing Service® (MLS®) in Metro Vancouver rose over thirty per cent in December, compared to the previous year, signalling strengthening demand-side momentum to close out 2024. 

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 26,561 in 2024, a 1.2 per cent increase from the 26,249 sales recorded in 2023, and a 9.2 per cent decrease from the 29,261 sales in 2022. 

Last year’s sales total was 20.9 per cent below the 10-year annual sales average (33,559).

Properties listed on the MLS® system in Metro Vancouver totalled 60,388 in 2024. This represents an 18.7 per cent increase compared to the 50,894 properties listed in 2023. This was 9.7 per cent above the 55,047 properties listed in 2022.    The total number of properties listed last year was 5.7 per cent above the region’s 10-year annual average (57,136). 

Currently, the total number of homes listed for sale on the MLS® system in Metro Vancouver is 10,948, a 24.4 per cent increase compared to December 2024 (8,802). This total is also 25.3 per cent above the 10-year seasonal average (8,737). 

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,171,500. This represents a 0.5 per cent increase over December 2023 and a 0.1 per cent decrease compared to November 2024.