{"id":25181,"date":"2025-01-22T10:10:10","date_gmt":"2025-01-22T18:10:10","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25181"},"modified":"2025-01-09T10:27:31","modified_gmt":"2025-01-09T18:27:31","slug":"sellers-market-resurgence-for-greater-vancouver-in-2025-first-time-buyers-to-drive-large-portion-of-activity","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/01\/sellers-market-resurgence-for-greater-vancouver-in-2025-first-time-buyers-to-drive-large-portion-of-activity\/","title":{"rendered":"Seller&#8217;s Market Resurgence for Greater Vancouver in 2025 &#8211; First-Time Buyers to Drive Large Portion of Activity"},"content":{"rendered":"<p style=\"text-align: justify;\">Property prices in Greater Vancouver could rise by seven per cent in 2025, and sales volume could increase by 20%, according to an outlook report by national brokerage Re\/Max Canada.<\/p>\n<p style=\"text-align: justify;\">The brokerage said in a Nov. 26 report it expects the Vancouver housing market to transition further from a balanced market to a seller\u2019s market, with a surge of activity from first-time homebuyers.<\/p>\n<p style=\"text-align: justify;\">\u201cFirst-time and move-up buyers are expected to drive market activity in 2025, and single-detached houses are expected to see the most sales activity in the region,\u201d the Re\/Max report said of Greater Vancouver.<\/p>\n<p style=\"text-align: justify;\">\u201cThe condominium and townhome segment will also be driven by first-time buyers, active around the $800,000 price point.\u201d<\/p>\n<p style=\"text-align: justify;\">The report pointed to regulatory changes such as a new 30-year amortization period (up from 25 years) on insured mortgages taken out by first-time homebuyers.<\/p>\n<p style=\"text-align: justify;\">This \u201cwill make it easier for first-time homebuyers to purchase a home in [Greater Vancouver], and declining interest rates will continue to encourage buyers to enter the market as they continue to impact mortgage rates,\u201d said the Re\/Max report.<\/p>\n<p style=\"text-align: justify;\">Re\/Max Canada president Christopher Alexander said move-up buyers are also in a favourable spot.<\/p>\n<p style=\"text-align: justify;\">\u201cBC\u2019s got the strongest level of equity-to-loan ratios,\u201d he told BIV on Dec. 19. \u201cMore people in BC own more of their homes. &#8230;.. The move-up market and beyond should be in a pretty good position if they want to transact.\u201d<\/p>\n<p style=\"text-align: justify;\">Alexander said the BC NDP, which was narrowly returned to power in last fall\u2019s provincial election, \u201chas been really using every tool that they can to curb demand, and it will be interesting to see the true effect of those measures going forward.\u201d<\/p>\n<p style=\"text-align: justify;\">But he suggested the governing political party needs to address housing fundamentals rather than beating around the bush.<\/p>\n<p style=\"text-align: justify;\">\u201cThey\u2019re all just Band-Aid solutions that only have short-term effects,\u201d Alexander said of measures like the speculation and vacancy tax, short-term rental rules and the new home-flipping tax that went into effect Jan. 1.<\/p>\n<p style=\"text-align: justify;\">\u201cThe real challenge that BC, and frankly the rest of the country, faces is lack of housing supply, no national housing strategy and no co-ordinated effort from all three levels of government to tackle it. It could delay demand for the short term, but without methodical, strategic housing planning, it\u2019s only going to be a short-term fix.\u201d<\/p>\n<p style=\"text-align: justify;\">He acknowledged recent reductions in some immigration targets by the Liberals at the federal level, but suggested it\u2019s too little, too late for affordability. Alexander said many newcomers rent for several years before buying property, so their market impact is limited.<\/p>\n<p style=\"text-align: justify;\">\u201cIt could have an effect on the rental market, but the challenge we face is that we\u2019ve already brought in a tremendous amount of newcomers without adequate infrastructure in health care, housing,\u201d he said. \u201cSo it will be a while until that catches up.\u201d<\/p>\n<p style=\"text-align: justify;\">Alexander said that in three or so years, there needs to be enough new housing to accommodate existing immigrants who will then have more buying power.<\/p>\n<p style=\"text-align: justify;\">\u201cMy concern is that once the newcomers kind of filter through, we\u2019re not going to have the new housing in three years\u2019 time, which is when some of them might be interested in buying, to kind of curb demand a bit,\u201d he said.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/remax-forecasts-sellers-market-resurgence-for-greater-vancouver-in-2025-10039779\" target=\"_blank\" rel=\"noopener\">Re\/Max Forecasts Seller&#8217;s Market Resurgence for Greater Vancouver in 2025<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Property prices in Greater Vancouver could rise by seven per cent in 2025, and sales volume could increase by 20%, according to an outlook report by national brokerage Re\/Max Canada. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/01\/sellers-market-resurgence-for-greater-vancouver-in-2025-first-time-buyers-to-drive-large-portion-of-activity\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-25181","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Seller&#039;s Market Resurgence for Greater Vancouver in 2025 - First-Time Buyers to Drive Large Portion of Activity &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/01\/sellers-market-resurgence-for-greater-vancouver-in-2025-first-time-buyers-to-drive-large-portion-of-activity\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Seller&#039;s Market Resurgence for Greater Vancouver in 2025 - First-Time Buyers to Drive Large Portion of Activity &#8226; 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