After six straight months of declining sales, Canada’s housing market finally showed signs of life in May. National home sales climbed 3.6 per cent month-over-month, the first gain since last November. But before anyone calls it a comeback, let’s be honest about what the data actually says. If this is our so-called “pent-up demand,” the market’s in no rush. In the first quarter, uncertainty around the Canadian election prevented buyers from making decisions. The industry assumed this activity would get pulled into May and June, once the election was behind us. This assumption was overestimated, albeit correct. Yes, activity picked up. But it didn’t take off. And while buyers re-entered the ring, they were met by a wave of sellers with more speed and confidence. Canadian Real Estate Association (CREA)’s latest report confirms what observers like me have already been signaling: new supply continues to outpace new demand, and the much-awaited rebound has landed more like a soft echo than a rally. What’s unfolding is a quiet rebalancing, and if you’re not reading between the lines, you’re missing the most important shift we’ve seen in over a year. Read More
Family Day Weekend is just around the corner, and there’s no better place to spend it than in the Township of Langley. Find out more
In this replay of Andy Talks Real Estate, I break down the latest housing numbers from the Fraser Valley Real Estate Board — and what they mean if you're buying or selling in Langley or the Fraser Valley right now. 📈 Sales are up month-over-month 🏘️ Listings are way up compared to last year 🏠 Detached prices dipped slightly 🧍♂️ Buyers are still hesitating... but inventory is strong ⏳ We may be bouncing along the bottom With over 30 years of experience, I’ve seen these cycles before. If you’re waiting for the perfect moment, you might miss it. Let’s chat about your next move.
