How Recent US Tariffs & Potential Trade War Could Impact the Real Estate Market in BC
By Omeed Ghafori | Award-Winning Realtor – South Surrey & White Rock Real Estate Expert
What’s Happening?
Recent headlines have sparked concern over new US tariffs on goods from China and the potential for an escalating trade war. While these tariffs are targeted at international trade, they may have ripple effects closer to home — including BC’s real estate market.
As a local South Surrey & White Rock realtor, I’m breaking down what these developments could mean for homeowners, buyers, sellers, and investors in our region.
Key Ways Tariffs Could Impact the Real Estate Market
1. Increased Construction Costs
Tariffs on imported materials such as lumber, steel, and electrical components could raise the cost of building new homes and completing renovations. Builders may pass these costs onto buyers, driving up the price of new construction homes.
2. Supply Chain Disruptions
If trade tensions escalate, supply chain delays could slow down new housing developments or renovations — tightening supply in an already competitive market like South Surrey & White Rock.
3. Interest Rate Sensitivity
Tariffs may contribute to inflationary pressure, increasing the likelihood of higher interest rates. This could directly affect mortgage rates, making borrowing more expensive for buyers.
4. Market Uncertainty
Global economic instability often leads to consumer hesitation. Buyers may wait on the sidelines, while sellers could face longer days on market depending on how these economic factors unfold.
What Should Buyers & Sellers in BC Do?
Buyers:
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Lock in pre-approvals sooner to secure today’s mortgage rates
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Be prepared for potential price increases on new builds
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Work with a realtor who understands market shifts
Sellers:
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Stay informed about material costs if planning renovations
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Price your home competitively for current market conditions
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Leverage local market expertise to navigate uncertainty
Final Thoughts
While global tariffs and trade wars may feel distant, their effects can impact our local real estate market in meaningful ways. Staying informed and working with a real estate professional who understands these market trends is essential.
Looking for personalized advice about buying or selling in South Surrey or White Rock?
Reach out to me anytime — I’m always happy to help!
About Omeed Ghafori
Award-Winning South Surrey & White Rock Realtor
Century 21 Coastal Realty
☎️ 778-316-7506
🌐 www.OmeedGhafori.com
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