09/27/2026
DOES THIS SOUND LIKE TODAY'S REAL ESTATE MARKET?
“Consumer confidence has been eroded because of job losses.”
“There are potential buyers making inquiries, but the barrage of economic news makes them much more cautious than before.”
“Global trade disputes have caused uncertainty.”
“Trade tensions and uncertainty are weighing heavily on confidence and economic activity.”
“Oil prices…have shaken consumer confidence…pushing potential homebuyers to the sidelines.”
“These new developments will herald the return of badly needed consumer confidence.”
You might think these comments were all made about today's Canadian economy and real estate market. They weren't. They come from different periods in Canadian history:
1 and 2 — 1985, CREA President Calvin Lindberg
3 — March 2019, Bank of Canada speech summary featuring Deputy Governor Lynn Patterson
4 — 2019, Bank of Canada, on international trade tensions
5 — March 13, 2015, CREA national resale housing forecast
6 — 1985, BCREA President Herman Wiebe
This is my fourth cycle in the real estate industry. That makes me old, but it also gives me the benefit of seeing market trends repeat. When the market is rising, as it was from 2020 to 2023, people can give you multiple reasons why it will continue. When the market is correcting, as it is now, people have just as many reasons why the downturn will continue. Neither lasts forever.
Given the present state of the economy and real estate market, I believe we may be months away from a recovery. One of the first signs of a recovery is decreasing inventory, and we're seeing that now. I expect the recovery to begin in the first half of 2027. Of course, another major world economic crisis could interrupt it.
But remember…that's just the world according to Bill.
William Hubbard
Owner/Broker
Coldwell Banker Executives Realty
