B.C.’s real estate market set for a balanced 2025, but Trump’s tariff threats loom [Video]

The B.C. Real Estate Association (BCREA) says the province’s housing market finished 2024 on a strong note, setting the stage for a balanced and steady 2025, but looming threats of tariffs from south of the border could disrupt this stability.

In its latest housing market update, the association says 4,484 residential unit sales were recorded in December, a 24.7 per cent increase from the same month in 2023.

The average price of a home was also up, landing at close to $1.1 million last month, a 5.6 per cent jump from December 2023.

BCREA’s chief economist, Brendon Ogmundson, says active listings have risen by nearly 17 per cent, giving the province its highest start-of-year inventory levels since 2019.

“On the buyer’s side, it means there’s a bit more choice in the market,” he told CBC News. “There are enough listings in the market right now to absorb that extra demand …