T
he British Columbia housing market ended 2024 on a strong note, according to the B.C. Real Estate Association (BCREA). Despite this momentum, looming tariff threats from incoming U.S. President Donald Trump could disrupt the market.

    In December 2024, over 4,400 sales were listed in the province, a 24% increase from the previous year. The total sale volume jumped to $4.5 billion, up 31.7% from 2023. BCREA chief economist Brendon Ogmundson noted that this strong finish set the stage for a promising start to 2025.

    Vancouver Island also saw an uptick in sales, with 227 homes sold in December compared to 152 the previous year. Townhouse and single-family home sales increased, while apartment sales decreased slightly.

    Experts are cautiously optimistic about the market's prospects in 2025, but concerns over tariff threats have clouded their outlook. University of British Columbia professor Thomas Davidoff noted that reduced immigration and potential tariffs would create uncertainty, making it difficult to predict a strong year ahead.

    The B.C. government has warned that Trump's tariffs could lead to significant job losses and economic damage, with around 124,000 jobs and $6.1 billion lost within five years. Other sectors, including forestry, minerals, and natural gas, would also be affected by the tariff threat.