Author: scottmenges-com

The latest Canadian housing trends are certainly catching my attention. While we’re seeing a welcome uptick in home sales, many buyers are still taking a careful approach—overall activity hasn’t yet caught up to last year’s pace. Fewer new listings are coming on the market even as sales pick up, which is helping to move the balance between supply and demand in a healthier direction. Price growth has stayed steady, offering a bit more predictability for buyers without the sharp market correction some expected. Of course, every region tells a different story, which is why choosing the right area—whether you’re buying or selling—remains so important, especially here in Greater Vancouver. My priority is always to provide straightforward, honest advice so you can navigate these shifts with confidence and integrity.

Here’s a quick update on Surrey’s housing market this month. Homes are taking about the same time to sell as last year. The number of homes available and sold remains steady.

This week brought a wave of important updates that shape our understanding of the real estate landscape in Canada—especially here in Greater Vancouver. With new data on inflation, housing starts, and retail sales, plus the ongoing discussions around tariffs that could impact nearly US$20 billion in Canadian exports, there’s a lot for buyers and sellers to consider. Notably, a leading Real Estate group has revised its 2026 outlook to predict a slight dip in national sales for this year, reversing earlier expectations of modest growth. These shifts—along with fresh numbers on lending and construction—provide valuable insight into where the market might be headed and how long the current interest rate environment could last. My approach, as always, is to help clients interpret these signals with honesty and integrity, so you can make informed decisions in a dynamic market.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

In Surrey, current conditions favored buyers, and detached home benchmark prices were pulling back significantly faster than the overall market correction underway.
Certain Surrey sub-markets saw detached home benchmark prices at ↓~12% yearly, showing how uneven the local pullback had become by the current period.
Benchmark prices, sales activity, and inventory levels were the main gauges for reading Surrey's correction and understanding how quickly buyer leverage was building.
The takeaway for Surrey was clear: local housing segments were not moving together, and economic pressures were shaping a more uneven market than averages suggest.
For anyone tracking Surrey, detached pricing, inventory, sales, and local economic conditions were the clearest signals for understanding this buyer-friendly shift currently.

In Early-Q3, BC recorded 6.6K residential sales, ↓~7% yearly, while provincial sales volume reached $6.1B and avg. price eased to ~$930K provincewide.
BC's headline softness masked a widening regional divide, with recovering Interior markets offsetting continued pressure in the Lower Mainland during Early-Q3 activity.
BC's Interior helped balance the picture: Okanagan prices ↑~8%, South Peace River prices ↑~10% with sales ↑~26%, while Kamloops and Kootenay also advanced.
Seasonally adjusted sales activity rose MoM across most of BC, suggesting broader stabilization, while economists said remaining weakness stayed concentrated in the Lower Mainland.
Through Early-Q3 2026, BC dollar volume ↓~7% to $38B and unit sales ↓~6% to 40.4K; the forecast still expected 2027 growth provincewide.

Not every renovation lifted resale in Canada; some projects recouped little, and certain upgrades could even work against a home's market value.
In Canada, cosmetic kitchen and bathroom refreshes tended to attract buyers most, while full gut renovations often required heavy spending without full financial recovery.
Higher-impact kitchen updates included cabinet fronts, quartz or granite counters, plus modern fixtures and lighting; bathrooms benefited from new vanities, fresh tile, and walk-in showers.
Low-cost exterior work also supported resale, especially professional painting and steel front doors, which the guidance described as especially cost-effective for first impressions.
Energy-efficiency upgrades became a faster-growing value driver, and checking current federal and provincial incentives before budgeting could improve ROI on qualifying projects.
Returns were weaker for basements, decks, and landscaping; basement work paid better when it fixed moisture risks or created l