As someone who’s spent a lifetime calling the Cowichan Valley home and helping folks settle here, I keep a close eye on shifts in the national housing landscape—and right now, things are certainly evolving. Mid-Q3 numbers show Canadian home sales dropped about 1% month-over-month and nearly 7% compared to last year. For those wondering about home values, the price index stayed flat since last month but is down about 3% year-over-year. Meanwhile, we did see a small boost in new listings—up around 3% after a few months of declines—which means buyers may have a bit more to choose from.
The sales-to-new-listings ratio has eased to roughly 49% from 51% earlier in the quarter, sitting well below the long-term Canadian average of 55%. Behind these numbers are broader economic pressures—rising inflation concerns, uncertainty about growth, and higher bond yields that have pushed fixed mortgage rates higher. At the time these stats were gathered, markets were pricing in about a 60% chance of a rate hike in early Q4, with more than a percentage point of tightening likely by 2027.
For anyone considering buying or selling in our Valley, understanding these trends is key to making confident decisions. My roots here—and my experience guiding clients through changing markets—mean I’m always here to offer insight tailored to what makes our community unique.
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