The North Shore Real Estate Market Pulse is intended to keep readers apprised of what’s going on in local real estate markets and in the global financial markets that affect real estate via inflation, interest rates, capital flows and public policy. It is best suited for those not able to keep up with all the news every day but still wanting to be informed.
The North Shore Real Estate Market Pulse – These Are Not Normal Times, May 28th, 2026
Sales activity for the month of May on the North Shore has been high, but not quite as high as May of last year. Back in the winter, we were wondering if pent-up demand would win out in the wrestling match with geopolitical and interest rate uncertainty, or if we would possibly see a glut of supply. Supply came, but not in quantities that the market couldn’t absorb and buyers are still active, but only for specific types of properties. We’re often asked, “how’s the market?” Our answer is some variation of “it depends.” It depends on what you’re trying to sell. If it’s a home with an outdated layout in need of a substantial renovation on a busy street, chances are you will have a hard time finding buyers at prices you think are good. On the other hand, if it’s a home in move-in ready condition, functional floorplan and on a family-friendly street, you could well end up with buyers in competition for the property. What we’re looking for is whether that mentality of buyers spills over into other property types as they get scooped off the market.
North Vancouver Entry-Level Houses ($1.4-2.1M) | West Vancouver Houses Under $2.4M
North Vancouver Move-Up Houses ($2.1-2.8M) | West Vancouver Move-Up Houses ($2.4-3.2M)
Geopolitical factors, trade disputes and interest rates are still top of mind for many buyer cohorts. The war in Iran may have abated, but the damage done to the oil and gas infrastructure in the area will have lasting effects. The war may also turn hot again at any moment. Meanwhile, the Canada/US/Mexico trade topic is about to heat up. Any resolution or escalation to the existing disputes could have ramifications for overall economic growth and the paycheques of many Canadians – who might otherwise be planning a new home purchase. Interest rates are also affecting homebuyers’ purchasing power. Lately they’ve been on the way up, although a firm resolution to either of the above could bring relief. One misconception seems to be that there are times of uncertainty and times of certainty, and we’re just waiting for the latter. I don’t recall there ever being a time of certainty; we just become more comfortable with the new reality. As that happens, I expect many of these people waiting on the sidelines to begin transacting.
North Vancouver Townhomes Under $1.3M | North Vancouver 2BR Condos Under $800K
Stock markets continue hitting new all-time highs as earnings growth (much of it AI spending-driven), continues to justify higher and higher valuations of the largest tech companies. Big time capital is being directed toward fundraising for AI giants like Anthropic, OpenAI and SpaceX (which joined forces with xAI). If you’re having trouble contextualizing the scale of what is happening, you’re not alone. Investors that have been reducing exposure to stocks due to the above geopolitical factors are being punished. In moves up like this, violent but short corrections are commonplace. After the war started, the S&P 500 dropped by 10% in a matter of a few weeks. But it is now up 20% from those levels already. That’s about 3 years worth of average equity returns in only 2 months. These are not normal times.
With stocks adding trillions of dollars to their total values, it’s no surprise virtually every other asset is starving for attention. Bitcoin is now back in the low-$70,000 range, gold is consolidating its previous gains near $4500. Oil has dropped below $90. Our last article was titled, “a rising tide lifts all boats”. That is clearly not happening right now. Gains in stocks are coming at the expense of nearly every other asset.
North Shore Real Estate Team
Disclaimer: The information provided in this column is for general informational purposes only and does not constitute financial, investment, or other professional advice. While we strive to provide accurate and up-to-date information, we make no warranties or representations as to its accuracy, completeness, or reliability. Any actions taken based on this information are at your own risk. Always consult with a qualified financial advisor before making any investment decisions.
