The British Columbia Real Estate Association (BCREA) recently released their June forecast expecting a prolonged period of rate stability alongside a more balanced and predictable housing market.

Let’s take a closer look at the players and what this means for buyers and sellers looking to time a move this year.

Economic Outlook:

The Canadian economy contracted in the first quarter of the year, falling short of the Bank of Canadas (BOC) growth forecast.  

Household consumption remained resilient while private sector investment weakened.  This despite the contracting economy and the Prime Ministers Canada Strong Fund announced back in April. 

Immigration policy continues to pivot; the Canadian population in decline the last two quarters.

Tariff and trade concerns have been overtaken by the ongoing US Iran conflict.  While traffic conditions in the Straight of Hormuz has resumed (well below normal volume) passage continues to be highly volatile and militarized.

The Canadian economy has limited options for growth moving forward however large scale federal projects, normalizing immigration and anticipation of a resolution in the Iranian conflict could help the economy along as we move further into the year.

Mortgage Rate Outlook:

Canadian borrowers have been denied what should have been a period of declining rates in 2026.  Instead, the BOC continues to hold its policy rate at 2.25 per cent.  Variable rates sit at 4.2 per cent (expected to dip to 4.1 per cent later this year).  Uninsured fixed rates hover near 4.5 per cent.

Upward pressure on inflation stemming from the Iran war has placed the BOC in an increasingly difficult position. Upticks in energy costs can sometimes be ignored if policymakers believe them to be temporary but sustained energy price increases effect the economy in a broader sense ie: wages, unemployment, transportation, inflation and consumer confidence.

With hopes for a resolution to the Iranian conflict, pressure to raise rates should ease but because the BOC is at the low end of what it considers neutral for the economy it may feel compelled to bring its policy rate back to the mid-range of 2.75 per cent in 2027 thus raising the possibility of a stagflationary environment.

The next rate announcement is scheduled July 15. 

Buying or Selling in 2026:

For South Surrey and White Rock buyers, choice and leverage are at an all time high.  Inventory continues to rise while days on market extend granting buyers the gift of options.  Pricing continues to soften boosting accessibility.  Surrey / Cloverdale detached homes average price sits around $1,300,000 while some pockets like South Surrey have seen benchmark prices soften approx. 8 per cent in the last year.

With the BCREA expecting variable rates to ease sightly lenders increase their discounts making it a good time to get pre-qualified.

For Fraser Valley sellers, patience and flexibility are the name of the game.  Expect longer timelines.  Homes are taking roughly one month to sell when priced realistically.  Townhome and condo sellers face even tighter margins, competing with resale and pre-sale units. Prepare for low, conditional offers and no bidding wars.  Buyers are highly price sensitive in this environment, willing to walk away if a property feels overvalued.  Your listing must stand out in terms of presentation and value.

While markets wait for a resolution that can create some momentum, talk to your area expert for advice.  Neighbourhoods and the conditions within them are highly nuanced, only a local realtor can help you strategize accordingly.

 We can help. It’s what we do.

 Written by Jenn

Photo by Planet Volumes on Unsplash

We have just re listed this lovely bright and airy 2 story with basement home in the heart of the Sullivan Panorama community, within walking to local schools, parks, YMCA, Fresh St Market and all of Panoramas shops and amenities.

Large open rooms with high ceilings and a flexible floor plan, main level walks out to private and sunny fully fenced west facing yard and cedar sundeck.

4 generous size bedrooms on the upper level including primary suite, ensuite bath and walk in closet.  Fully finished, brand new self contained 2  bed basement suite with private entrance.

Features include: fresh paint throughout, new flooring, new fence and artificial turf in rear yard. 2 car garage with room for 2 more vehicles on drive.

Great street appeal in a family friendly walkable neighbourhood.  6125 150a St is now asking $1,369,900 and showing by appt only.

View image galley, video, specs and floor plan HERE

We have just re-listed this fully renovated in and out executive home in the heart of the Sullivan Station K streets!

Located in a quiet cul de sac, backing onto parkland with valley and mountain views this 2 level, 4 bedroom home offers almost 3,000sqft of living space, a 16,117sqft lot and a 24x30 detached garage/workshop.

Updated from top to bottom. Gorgeous wide plank wood, slate tile and wool carpet flooring throughout. Large bright rooms, contemporary open concept kitchen and family room walks out to an entertainers back yard w/covered patio and outdoor kitchen.

Primary suite on upper level with WI closet and ensuite bath w/jetted shower, plus 2 more generous size bedrooms. 4th bedroom on the main can flex as home office or gym.

Renos incl: new kitchen, baths, mud room, lighting, roof, windows, AC, radiant heat, attached garage w/EV charger, detached heated workshop w/220 power bonus panel, side gate access for RV / boat parking.

Dream home in a beautiful tree lined neighbourhood!

15464 60a Ave is now asking $1,799,900

View image gallery, video, floor plan and specs HERE

We have just listed this immaculate 2 story with basement home in Oliver’s Lane, the heart of the family friendly Sullivan community.

Walk to local parks, schools, YMCA, Fresh St Market as well as all the shops and amenities at Panorama.

Bright and airy open concept floor plan on the main level walks out to a south facing back yard with 13x9 patio, office space at front could flex for a variety of needs.

Upper level offers generous size bedrooms including primary suite with vaulted ceiling, walk in closet and his/hers ensuite bath. 2 additional flex areas on the upper level perfect for play/study/den.

Unfinished basement with separate entrance waiting to be finished could easily convert to in-law suite.

Built by Morningstar Homes with great street appeal, front porch overlooks landscaped yard and tree lined street.

15188 61 Ave is asking $1,299,900 and showing by appt only.

View image gallery, video and floor plan HERE

For the first time in over a year April’s home sales in the Fraser Valley recorded an increase and for the 2nd month in a row the benchmark price of a typical home In the Fraser valley increased by 0.1 per cent.

Could this be a sign the spring market is upon us?  Will May show more of this recent trend?  Its hard to chart.

As of this week, conditions remain firmly entrenched in favor of the buyer.  Month over month sellers enter the market while buyers wait safely in the nearest port.

Inflation, interest rates, speculators waiting for the bottom and the ongoing Iranian conflict continue to muddy the waters.  Let’s take a closer look …

Inflation:  Despite decelerating core inflation (sans gasoline), the ongoing Iranian conflict and its shock to global oil supply is placing upward pressure on inflation. The depth of the shock continues to be assessed.  Some expect an uptick in inflation to 3 percent in the coming months as oil prices filer through.

Interest rates:  At the last meeting, the Bank of Canada held rates again, the fourth time in a row. Fixed rates are still the safe play. The BOC expects rates to ease back down by 2027 but they remain cautious, watching and waiting as their delayed response to rising inflation during covid remains fresh in the public mind.

Speculation:  As mentioned in our recent blog update many buyers are hoping pricing will soften further.  This is harder than one may think especially with market volatility making timing trickier than ever.  

Global instability:  Oil can’t make up its mind. Iran offered a peace deal, prices dropped, Trump was not satisfied, prices went up.  Until the Straight of Hormuz shipping route reopens oil prices and everything connected to them in every corner of the globe, will remain unpredictable. 

As if the above were not enough to keep buyers and sellers from wading in;  a 0.1 decline in the Canadian GDP for the first quarter of the year just hit the news feed.

Specific groups are having a harder time than others navigating these conditions;

1. Boomers who plan to downsize but can’t sell at the number they need or want.

2. Presale construction buyers facing huge appraisal shortfalls at closing.

3. Homeowners who counted on refinancing to clear high interest debt but don’t have the equity anymore.

4. Subject to sale buyers who negotiated a fair price upon acceptance, then watched that value soften week over week while they wait to sell their current home.

Moving further into the year, buyers and sellers are well advised to consult with local realtors, mortgage brokers and financial advisers to help chart a safe and steady course forward.

We can help. Its what we do.

Jenn and Colin

Written by Jenn.  Photo by Matt Hardy on Unsplash

This Saturday May 23 between 9-1pm (rain or shine) over 32 homes will have a garage sale set up, ready for you to browse!

All sales are located between 64th Ave / 56th Ave and 156th St / 144th St. just come to the area and follow the dozens of arrow signs that have been set up the morning of the event.

Alternatively you can print an address list … 2026 Address List.pdf

Or area map … 2026 Sale MAP.pdf to help you on your way.

You can learn more on our Facebook events page https://www.facebook.com/share/14dvg4GW92q/

Come check it out friends, bring the kids!

See ya out there Sullivan!  COMMUNITY, Its what we do.

As of today, 32 homes have signed up to participate in this event!

Saturday May 23, 2026 (rain or shine)
9:00 am – 1:00 pm.

If your home is located between 64th Ave / 56th Ave and 156th St / 144th St you can participate too!

All promotions, posts and advertising will be managed by us leading up to the sale.  In addition, we will install hundreds of directional arrows and signs leading buyers to your sale, early morning the day of the event. 

All that is required from you is to have your sale ready to go by 9:00am on the day of the event.

Please visit our garage sale page for all you need to know to register your home …

LEARN MORE or REGISTER HERE

and …

WATCH FOR UPDATES ON OUR FACEBOOK PAGE

Please note, to have your home noted on our map / address list and in all promotion leading up to the event you must register before SUNDAY MAY 17.

See ya out there Sullivan.  COMMUNITY, Its what we do.

We have just listed this rancher with basement on a 13,939sqft private lot backing onto greenspace in Sullivan Stations K Streets!

Over 3,000sqft of large open rooms. Flexible floor plan throughout, main level walks out to stone patio, covered outdoor kitchen and seating area overlooking water feature and sunny west facing landscaped and fenced garden.

3 generous size bedrooms on the main including primary suite w/ensuite bath and solarium. Basement level could suite a variety of needs; home office, hobby, rec/media, guest suite or be converted to a self contained in-law suite with separate entrance.

2 car attached garage plus 1 car detached workshop, heated w/220 power, secure e-gate access to long side drive perfect for rec vehicles.

Tree lined streets in a historic family friendly neighbourhood close to parks, schools and the shops and amenities at Panorama. Come check it out!

6123 Killarney Drive is asking $1,648,900 and showing by appt only.

View image galley, specs, video and floor plan HERE

We have just listed this beautiful and bright 2 story with basement home in the heart of the Sullivan Panorama community, within walking to local schools, parks, YMCA, Fresh St Market and all of Panoramas shops and amenities.

Large airy rooms with high ceilings and a flexible floor plan, main level walks out to private and sunny fully fenced west facing yard and cedar sundeck.

4 generous size bedrooms on the upper level including primary suite, ensuite bath and walk in closet.  Fully finished, self contained basement offers 2 additional bedrooms, easily converted to suite for in laws.

Features include: fresh paint throughout, new flooring, new fence and artificial turf in rear yard. 2 car garage with room for 2 more vehicles on drive.

Great street appeal in a family friendly walkable neighbourhood.

6125 150a St is asking $1,399,900 and showing by appt only.

View image galley, video, specs and floor plan HERE

Saturday May 23, 2026 (rain or shine)
9:00 am – 1:00 pm.

Typically 30-60 families in Surreys Sullivan Panorama area host a sale at this event,

If your home is located between 64th Ave / 56th Ave and 156th St / 144th St you can participate too!

All promotions, posts and advertising will be managed by us leading up to the sale.  In addition, we will install hundreds of directional arrows and signs leading buyers to your sale, early morning the day of the event. 

All that is required from you is to have your sale ready to go by 9:00am on the day of the event.

Please visit our garage sale page for all you need to know to register your home …

LEARN MORE or REGISTER HERE

and …

WATCH FOR UPDATES ON OUR FACEBOOK PAGE

Please note, to have your home noted on our map / address list and in all promotion leading up to the event you must register before SUNDAY MAY 17.

See ya out there Sullivan.  COMMUNITY, Its what we do.