Is Now a Good Time to Buy a Home? Navigating Economic Uncertainty in 2025

With global headlines swirling about inflation, interest rates, housing corrections, and economic slowdowns, it’s no surprise many Canadians are wondering: Is now a good time to buy a home? If you’re on the fence, you’re not alone. Let’s unpack the current climate and what it means for homebuyers in Alberta, British Columbia, and across Canada.

The Economic Landscape: A Mixed Bag

In 2025, Canada continues to face economic headwinds. Inflation has cooled from its peak, but the Bank of Canada remains cautious. Interest rates are holding steady with potential for modest cuts later this year. Meanwhile, global uncertainty—ranging from supply chain issues to geopolitical tensions—adds to the sense of unpredictability.

But with uncertainty also comes opportunity.

What’s Happening in the Housing Market?

In many regions, particularly Alberta, we’re seeing increased affordability compared to the peak of the pandemic market. Prices have softened or stabilized in several communities, while inventory is gradually returning to more balanced levels.

In B.C., especially the Lower Mainland, affordability remains a challenge, but the pace of price growth has slowed. This can give buyers more room to negotiate and be selective.

Interest Rates: Still Higher Than We’d Like, But Manageable

Yes, rates are still higher than they were in 2020–2021. But that was an anomaly. Today’s fixed and variable rates, while elevated, are still within historical norms. Many lenders are offering creative mortgage solutions, including shorter terms or hybrid options, that can help hedge against future rate changes.

And if rates drop in the coming year, there’s always the potential to refinance into something more affordable.

Is It the Right Time for You?

Timing the market perfectly is nearly impossible—even for seasoned investors. Instead, the better question is: Are you financially and emotionally ready to buy a home?

Ask yourself:

• Do I have job stability and a steady income?

• Can I afford the mortgage, taxes, and upkeep comfortably?

• Am I planning to stay in this home for at least 3–5 years?

If the answer is yes, then current conditions could work in your favour—especially if you’re a first-time buyer or upgrading in a more balanced market.

A Mortgage Broker’s Perspective

As a mortgage broker with over 15 years of experience helping Albertans and British Columbians, I’ve seen firsthand how economic cycles play out. Buyers who focus on their long-term goals—not short-term headlines—tend to come out ahead.

Every situation is unique. That’s why it’s so important to work with a mortgage professional who can assess your finances, explain your options, and find the right product for today’s market.

Final Thoughts

Yes, there’s uncertainty—but there’s also opportunity. If you’re thinking about buying, let’s talk. I can help you understand what’s possible today, and build a mortgage strategy that works for you whether the economy booms, stalls, or anything in between.

Have questions about your buying power or mortgage options? Reach out anytime for a personalized consultation.