The latest updates on inflation in B.C.


Among the factors that affect the real estate market — along with everything else in life — is inflation. Naturally, the British Columbia Real Estate Association tracks inflationary trends and passes them along to buyers, sellers and anybody who is just interested.

The BCREA report from July includes the current figures, using the Consumer Price Index to measure inflation. One of the more interesting results is this:

The CPI for British Columbians rose 1.7 per cent in July and but for the COVID years, that’s consistent with inflationary trends going back more than a decade. In other words, CPI increases have pretty much returned to normal after peaking at more than 8 per cent in 2022.

See the accompanying graph that tracks what inflation has been doing in B.C. and in Canada at large.


There are nine components in the CPI, and gasoline is the most negative. In the last month’s analysis, gasoline was up 11.5 per cent. Six of the other eight components showed a drop but that wasn’t enough to balance the impact gasoline’s impact on the CPI.

See the accompanying chart showing all nine CPI components.


All information comes from Statistics Canada.

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Jennifer always has the best interests of her clients at heart. She recognizes that buying or selling a home is a huge moment in everyone’s life and is keen to use her knowledge and skills to ensure her clients achieve the best results.

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Having started Nexus Realty nearly three decades ago, Dale has a history of proven results for his clients. Whatever his clients’ situation, he approaches his work with the same integrity and great service. Teaming with his daughter, Jennifer, makes Nexus Realty a family business dedicated to helping other families at pivotal moments in their lives.

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NOW AVAILABLE: August issue of News From Nexus!


The monthly newsletter has been coming to your mailbox for almost six years now, regularly as always during the first week of every month. The timing coincides with the statistics release from the Greater Vancouver Realtors, which provides you with the most up-to-date statistical analysis of the Lower Mainland's real estate market. In this issue, the GVR analysis of the statistics from July.


Special attention is always paid to the micro-markets most often served by Nexus Realty — West Vancouver, North Vancouver, Vancouver East and Vancouver West.


If you're not receiving the newsletter, it's easy to do. Just enter your email address in the box at the bottom of this page. It comes with a guarantee that you are signing up ONLY for News From Nexus, once each month.

Interest rate news 'no news' once again


In its latest interest-rate announcement, and the only one during the summer, the Bank of Canada held its overnight policy rate at 2.75 per cent. To analyze what it means for the real estate market, this report is courtesy of the B.C. Real Estate Association's chief economist,  Brendon Ogmundson:

"In the statement accompanying the decision, the Bank noted that U.S. tariffs are disrupting trade overall, but the economy is showing some resilience. That said, GDP likely declined by 1.5 per cent in the second quarter as the tariff driven import behaviour by U.S.  firms that spurred Canadian exports in the first quarter reversed in the second quarter. Moreover, uncertainty is restraining business and household spending, and labour market conditions are weakening in sectors affected by trade. On inflation, the Bank sees underlying inflation trending around 2.5 per cent but with risks of upward pressure due to tariffs. 

"Without the added risk of tariff driven inflation, the Bank of Canada would almost certainly be lowering rates in response to a clearly weakening economy that is showing signs of excess supply. However, core inflation continues to trend out of the Bank of Canada's comfort zone on both a 12-month and 3-month basis and the possibility of escalating tariffs is prompting the Bank to be extra cautious. While we expect the Bank will lower rates at its September meeting, that call is at odds with financial markets that are currently pricing in a 2.75 per cent  overnight rate for the remainder of the year. Those expectations are being reflected in 5-year bond yields, which have been trending solidly over 3 per cent  for the last week which unfortunately will put some upward pressure on 5-year fixed mortgage rates."

This is the third consecutive "no change" announcement by the Bank, following two cuts of .25 per cent at the beginning of 2025. The next interest-rate announcement is scheduled for September 17, with two more to follow before the end of the year.

Thought of the Day


“The POSITIVE THINKER sees the INVISIBLE, feels the INTANGIBLE, and achieves the IMPOSSIBLE..” 


                                                                                  — Winston Churchill

The Nexus Blog:

Is real estate market gradually turning around?


Recently released statistics offer an encouraging yet modest look at the real estate market in British Columbia. Because of the time it takes to collect and assess the data, “recently” sometimes refers to the month of May.

According to the British Columbia Real Estate Association, sales were down by just 0.4 per cent in May compared to April but up 7.1 per cent compared to May 2024. In Vancouver, the trend was similar — sales down 1.1 per cent compared to April and up 9.0 per cent compared to May 2024.

Elsewhere, statistics released by Canada Mortgage and Housing Corporation found that Vancouver posted a 74 per cent year-over-year jump in housing starts in June, boosted by a 97 per cent increase in multi-unit starts. This is a reversal of a mixed-bag trend through the first five months of the year: up 37 per cent in January, down 48 per cent in February and 59 per cent in March, up 6 per cent in April and down 10 per cent in May. All are compared to the same months in 2024.

And the Canadian Real Estate Association contributed this optimistic projection from Chair Valerie Paquin:

“If the spring market was mostly held back by economic uncertainty, barring any further big shocks, that delayed activity could very likely surface this summer and into the fall.”

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Phone: 604-720-3353

daleclark@nexusrealtycorp.com, jenniferclark@nexusrealtycorp.com