We’re witnessing an interesting phase in the Canadian housing market this Mid-Q3. Home sales have slipped by about 1% month-over-month and nearly 7% compared to last year—a clear reflection of how economic uncertainty and higher mortgage costs are impacting activity across the country. The national price index held steady month-over-month but is down around 3% from a year ago. On a positive note, new listings saw a modest 3% rebound after several months of declines, yet the sales-to-new listings ratio eased further to about 49%, notably below the long-term average of 55%. Economists point to rising inflation risks and doubts about sustained growth as key factors shifting the overall landscape, while climbing bond yields have pushed fixed mortgage rates higher. At that stage, the market anticipated a roughly 60% chance of an Early-Q4 rate hike and more than a percentage point of further tightening by 2027. My twenty-plus years in consulting, along with a business master's, inform my careful approach to evaluating these shifts—especially here in Greater Vancouver, where every change in the market tells its own story.
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