Author: Brian McQuhae
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More Homes Available: Buyers Gain Options in Latest Report
As someone who’s spent a lifetime calling the Cowichan Valley home, I keep a close eye on how our local real estate market shifts. The most recent board report shows that Vancouver Island recorded 651 real estate sales in August—a 4% decrease compared to last year. At the same time, active listings edged up 2%, reaching 4,498. Single-family home sales dropped 11% year-over-year, with the benchmark price sitting at $788,100. It’s clear that buyers are taking a cautious approach these days. Having lived and worked all over the Valley, I’ve seen firsthand how our community responds to changing market conditions. My years in customer service and home renovation taught me that understanding local trends is key to supporting my clients through every real estate move. If you’re curious how these numbers might impact your plans, you’re not alone—making the Valley your home is what I do.
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BC Standing Inventory Data By City, Size, And Average Price
When we look at BC’s current housing inventory, the numbers tell an interesting story: there are 6,687 unsold residential units right now, mostly condos, with the highest concentrations found in Burnaby, Vancouver, and Surrey. But it’s not just a matter of small units sitting empty—there’s a deeper market dynamic at play here. Living and working throughout the Cowichan Valley, I’ve seen firsthand how inventory trends across the province can ripple into our unique local market. Understanding these patterns helps me guide my clients with clear, grounded advice—whether you’re searching for your next home or weighing the timing of a sale. Every region has its own rhythm, and as someone who’s called many corners of this valley home, I know how to help you navigate it.
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Canada Housing Could Look Very Different in 2027
Looking ahead to 2027, we could see a shift in Canada’s housing landscape. According to CMHC, as incomes and economic growth pick up, housing conditions are expected to gradually improve. Sales should recover, though likely not to the same pace we saw in the last decade. CREA is anticipating only modest growth in national home prices, pointing to a more stable market rather than another big spike. With more inventory available and softer demand in certain areas, buyers may find themselves with a bit more negotiating power. Here in the Cowichan Valley, I’ve seen firsthand how unique our market can be, and I’m always keeping an eye on these trends so I can offer the best advice to those looking to make this community their home.
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Canada’s Housing Market Eyes 2027 Recovery
As someone who has lived and worked throughout the Cowichan Valley my whole life, I know just how much the local housing market means to our community. The latest forecast for Canada’s real estate landscape points to a brighter outlook by 2027, with early signs of recovery already visible—resales are on the rise, inventory is steady, and prices are holding firm as improved affordability and stronger employment help buyers feel more confident. What catches my eye is the number of buyers who pressed pause on their plans but are now in a better financial position, thanks to higher savings and stable jobs. For 2026, the experts predict resales will dip by around 4% (to about 453,000) and benchmark prices will soften by roughly 2% (to $794,000), but the expectation is for a gradual return to growth the following year. Borrowing costs are hovering near their lowest levels, and with the central bank likely to hold rates steady, it seems we’re set for a more stable footing—though we still need to watch out for trade and energy market shifts. By 2027, all provinces—including right here in BC—are expected to see both resales and prices climb, though recovery will likely be uneven rather than dramatic. What does this mean for the Cowichan Valley? As always, our unique community and lifestyle continue to set us apart, and I’m here to help you navigate these shifts with the insight that comes from years of local experience—whether you’re thinking about making a move now or planning for the future.
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Bank of Canada Holds 2.25% Key Rate
The Bank of Canada has decided to keep its key interest rate steady at 2.25%. This move comes as our economy continues to recover—Canada saw a GDP growth of 3.3% in the second quarter, and unemployment dipped to 6.4% in July. As someone rooted in the Cowichan Valley, I know how important these numbers are for families and homeowners in our community, whether you’re considering your next move or just keeping an eye on how the market is shifting. The next rate update is scheduled for October 28, 2026, when the Bank will take another look at inflation and overall economic conditions. I always keep an eye on changes like this to help folks here in the Valley navigate their real estate decisions smoothly. After all, making this valley your home is what I do best.
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Statistics Canada: Investment in building construction, June 2026
As someone who’s spent a lifetime in the Cowichan Valley—living in Cobble Hill, Lake Cowichan, Duncan, and Shawnigan Lake—I’ve seen firsthand how our communities grow and change. According to Statistics Canada, investment in building construction dipped 0.5% to $23.2B in June 2026, despite an 18.5% rise in permits. Residential investment was down 0.6%, mainly due to fewer multi-unit builds, although single-family homes saw a modest 0.9% increase. Non-residential investment saw a slight 0.1% decrease. For those who call this valley home, or are thinking about it, these numbers highlight the shifting landscape of real estate opportunities. My years in customer service and hands-on work as a contractor have taught me the value of understanding both the numbers and the people behind them. If you’re navigating the Cowichan Valley real estate market, these trends are worth keeping in mind as you consider your next move.
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Canada’s housing market ‘finally’ moving toward recovery this year: RBC
It’s encouraging to see Canada’s housing market showing real signs of recovery this year, with resales on the rise, inventory settling, and prices beginning to level out. Even though we might see resales dip by 3.6% in 2024, forecasts point to a 6.7% increase next year, along with modest price growth as interest rates remain steady and we navigate a few external uncertainties. For those of us rooted in the Cowichan Valley—where every neighbourhood has its own unique feel—these trends offer some optimism for buyers and sellers alike. Years spent living, working, and renovating homes throughout this region have given me a front-row seat to the ways our local market responds to national shifts. As always, my goal is to help make your move in the Valley as smooth as possible, backed by local insight and experience.
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State of the Housing Market in Canada 2026
As someone who’s spent a lifetime rooted in the Cowichan Valley, I keep a close eye on how the broader Canadian housing market shapes our own community. Heading into 2026, we’re seeing a stable national market, but affordability remains a real challenge. In fact, one-third of Canadian homeowners will be renewing their mortgages soon, and 67% are understandably concerned about higher rates. With nearly half having less than a 15% buffer in their payment budgets, it’s easy to see why the pressure is mounting—especially for newcomers and recent buyers. Having helped many folks navigate these uncertainties, I know how vital it is to understand both the numbers and the local experience. Every family’s situation is unique here in the Valley, and I’m always focused on making the process as smooth as possible, no matter the climate.
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Canada Fee Cuts Could Unlock Supply
Having spent my life in the Cowichan Valley, I’ve seen firsthand how development fees shape what gets built in our communities. A recent report from Canada’s national housing agency caught my attention: cutting these fees could make around 14% more residential projects viable across the country. That’s a significant shift—especially for cities like Toronto and Vancouver, where removing these charges could boost viable projects by about 10%. For Toronto, that could even meet half its stated housing supply needs.
When you compare Calgary’s development fees (roughly $4,000 for a one-bedroom high-rise to $9,000 for a detached home) to Vancouver’s much steeper $20,000–$33,000 for similar homes, it’s easy to see why affordability is such a hot topic. Of course, these fees support vital infrastructure—roads, sewers, services—so it’s not as simple as dropping them completely. Still, the idea of lowering fees on family-sized homes could be a game-changer, especially here in BC where new, larger homes often cost more than resale options and can put extra pressure on families looking for space.
As someone who’s both renovated homes and guided clients through buying and selling in the Valley, I know how crucial it is to balance growth with affordability. Small policy shifts like this can have a real impact on what’s possible for those hoping to make this special place their home.
