{"id":25699,"date":"2025-04-30T11:11:49","date_gmt":"2025-04-30T18:11:49","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25699"},"modified":"2025-04-23T11:03:17","modified_gmt":"2025-04-23T18:03:17","slug":"metro-vancouver-lukewarm-spring-housing-market-main-obstacle-tariffs-election-cost-of-living-social-psychology","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/04\/metro-vancouver-lukewarm-spring-housing-market-main-obstacle-tariffs-election-cost-of-living-social-psychology\/","title":{"rendered":"Metro Vancouver &#8220;Lukewarm&#8221; Spring Housing Market Main Obstacle : Tariffs, Election, Cost of Living &#038; Social Psychology"},"content":{"rendered":"<p style=\"text-align: justify;\">Canada\u2019s trade woes and federal election are weighing on Vancouver\u2019s spring housing market, according to brokerage Royal LePage.<\/p>\n<p style=\"text-align: justify;\">\u201cWe were expecting a pretty robust spring market for 2025 and it\u2019s been just lukewarm up to now,\u201d said Randy Ryalls, managing broker of Port Moody-based Royal LePage Sterling Realty.<\/p>\n<p style=\"text-align: justify;\">\u201cThere seems to be a lot of buyers just sitting on the fence waiting to see what\u2019s going on. If you add the Canadian federal election on top of [the geopolitical situation], that\u2019s probably enough in the minds of most Canadians to sort of go, \u2018OK, well maybe I\u2019ll just kind of sit, and wait and see what happens here.\u2019\u201d<\/p>\n<p style=\"text-align: justify;\">Ryalls said the fundamentals exist for a buoyant spring market, with lower lending rates, greater household savings, flat prices and higher inventory. However, given tariffs and the election, transactional volume is trending significantly below the 10-year average for this time of year, he said.<\/p>\n<p style=\"text-align: justify;\">\u201cUsually, the spring is the busiest part of the year,\u201d he said. \u201cAnd that\u2019s not quite happening yet, so if we get this federal election past us and maybe a little bit more certainty with respect to our relationship with the United States, that might allay some fears for people.\u201d<\/p>\n<p style=\"text-align: justify;\">To gauge consumer sentiment, Royal LePage commissioned a national survey of 2,417 Canadians aged 18 and older between April 2 and April 9, weighted for age and gender using 2021 census data.<\/p>\n<p style=\"text-align: justify;\">The survey found that 50% of Vancouver residents are &#8220;not confident in the Canadian economy&#8221; compared with 43% nationally. On the other hand, 41% of locals were \u201csomewhat\u201d or \u201cvery\u201d confident in the Canadian economy.<\/p>\n<p style=\"text-align: justify;\">\u201cIt\u2019s almost split down the middle,\u201d Ryalls said.<\/p>\n<p style=\"text-align: justify;\">While 17% of Vancouverites were thinking about buying a home this year, 9% said they have now postponed their plans compared with 8% nationally.<\/p>\n<p style=\"text-align: justify;\">Countrywide, the main consumer concerns were the rising cost of living (37%), the timing of such a big purchase amid political and economic uncertainty (30%), and expectations that home prices will decline because of the trade dispute (14%).<\/p>\n<p style=\"text-align: justify;\">Ultimately, the spring market\u2019s main obstacle could be psychological, Ryalls said.<\/p>\n<p style=\"text-align: justify;\">\u201cWe\u2019ve been getting used to having a chronic undersupply of inventory for buyers, and this year we finally have what would normally be considered a fairly balanced market in terms of the amount of properties for sale to choose from,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">\u201cSo fundamentally it\u2019s there, but I think social psychology being what it is, it is definitely having an effect on buyer opinion.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/vancouver-spring-market-lukewarm-amid-tariffs-election-royal-lepage-10528003\" target=\"_blank\" rel=\"noopener\">Royal LePage : Vancouver Spring Market &#8220;Lukewarm&#8221; Amid Tariffs, Election<\/a> by Jami Makan | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s trade woes and federal election are weighing on Vancouver\u2019s spring housing market, according to brokerage Royal LePage. \u201cWe were expecting a pretty robust spring market for 2025 and it\u2019s &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/04\/metro-vancouver-lukewarm-spring-housing-market-main-obstacle-tariffs-election-cost-of-living-social-psychology\/\">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-25699","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 v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver &quot;Lukewarm&quot; Spring Housing Market Main Obstacle : Tariffs, Election, Cost of Living &amp; Social Psychology &#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\/04\/metro-vancouver-lukewarm-spring-housing-market-main-obstacle-tariffs-election-cost-of-living-social-psychology\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Metro Vancouver &quot;Lukewarm&quot; Spring Housing Market Main Obstacle : Tariffs, Election, Cost of Living &amp; Social Psychology &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Canada\u2019s trade woes and federal election are weighing on Vancouver\u2019s spring housing market, according to brokerage Royal LePage. \u201cWe were expecting a pretty robust spring market for 2025 and it\u2019s &hellip; 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