Should You Buy a Home in BC Now or Wait? Here’s What You Need to Know
As British Columbia's real estate market shifts, one of the most frequently asked questions by potential homeowners is: Should I buy now or wait? In July 2025, the answer isn't as simple as yes or no—but understanding current trends can help you make a smarter decision.
This post breaks down the key factors that influence buying in BC right now, including home prices, mortgage rates, inventory levels, and buyer demand.
1. BC Home Prices Are Stabilizing
Over the past few years, BC has seen rapid price appreciation—especially in high-demand areas like Vancouver, Kamloops, and the Okanagan. However, 2025 is showing signs of a different trend.
In many regions, home prices have started to level out or rise more slowly. Some rural and interior markets are even seeing minor price adjustments. This means that buyers today are less likely to face aggressive bidding wars or pay significantly over asking price.
If you’ve been waiting for the market to cool, this could be your signal that conditions are shifting in your favor.
2. Inventory is Rising Across BC
Increased housing inventory is giving buyers more choice and more negotiating power. In areas like Kamloops, Ashcroft, Clinton, and other parts of the Thompson-Nicola region, listings are sitting on the market longer, and motivated sellers are more open to price discussions or buyer incentives.
More listings also mean you're less likely to feel pressured into making a rushed decision. You can take your time to find the right home—one that fits both your lifestyle and your budget.
3. Mortgage Rates Remain High—but That May Not Last
Mortgage rates remain a key factor in affordability. In July 2025, average fixed rates are still hovering around 5.5 to 6 percent. While this is higher than pre-pandemic levels, it's lower than the peak seen in late 2023.
Here's what makes timing tricky: If interest rates begin to drop in the coming months (as many experts predict), more buyers will likely jump back into the market. That surge in demand could quickly push prices up again.
Buying now, even at a higher rate, could make financial sense—especially if you plan to refinance when rates fall. The key is being financially ready and finding a home that fits your long-term goals.
4. Waiting Could Cost You More Later
If you're in a position to buy and come across a home that meets your needs, this could be your best window of opportunity. While no one can perfectly time the market, waiting too long could mean facing increased competition and rising prices when rates eventually ease.
Keep in mind: Real estate is a long-term investment. Trying to time the exact bottom of the market often leads to missed opportunities—especially in high-demand regions like BC.
5. Should You Buy Now? Ask Yourself These Questions
Before making a decision, consider the following:
Are you financially ready for a down payment, closing costs, and monthly mortgage payments?
Are you planning to stay in the home for at least 3–5 years?
Do current home prices in your preferred area align with your budget?
Can you handle higher rates now and potentially refinance later?
If the answer to most of these is yes, buying now could be the right move.