The past couple of weeks have been a rollercoaster. The on-again, off-again tariff threats—still unresolved as of March 12, 2025—have done little to calm anxieties about the future of the Canadian economy. I’m cautiously optimistic that the upcoming Canadian federal election and mounting market pressure on the U.S. could push both sides toward a stable, long-term trade deal. But honestly? I wouldn’t bet the farm on it just yet.

The Bank of Canada (BoC) is clearly keeping a close eye on the situation. As expected, it continued its rate-cutting streak, lowering the benchmark interest rate to 2.75% in its latest announcement. While this move signals ongoing efforts to stimulate the economy, I don’t foresee it sparking a dramatic shift in real estate prices—at least not immediately. What I’m observing as the 2025 spring market kicks off is a slow but steady uptick in inventory paired with a general softening of prices. Listings are hitting the MLS at levels that feel right to me, aligning with a buyer’s market. And with interest rates trending lower, these homes are starting to look seriously affordable for many.

On the ground, I’m noticing a welcome uptick in activity. Showings and transactions among my clients are picking up, and I expect this momentum to carry through the spring season. Buyers are sensing opportunity, and sellers are adjusting expectations—a recipe for a balanced, if cautious, market as we move forward.