June 2026 Newsletter
June 2026
The Supply Inflow is Moderating:
With 54 new listings, we are well below the mid-May peaks of 76–77. The initial rush of sellers trying to catch the absolute peak of the spring market has naturally begun to taper off as we head toward summer.
A Temporary Buyer Lull:
Sales volume pulled back to 17 units—the quietest week for demand we’ve seen since mid-February. This is a common pattern as buyers take time to digest the massive wave of listings added over the last 45 days.
The Post-Rush Stabilization:
Cancelled and expired listings dropped significantly to 15 (nearly half of what we saw in early May). This tells us that the initial wave of over-optimistic pricing corrections has run its course. The market is stabilizing, and current sellers are pricing much closer to reality out of the gate.
The June 10th Waiting Game:
With the next Bank of Canada interest rate announcement coming up on Wednesday, June 10th, it is highly likely that some buyers are deliberately hitting the pause button. Even though the rate is widely expected to hold steady at 2.25%, fence-sitters often wait for the official press conference before locking in a mortgage.
🏠 Synopsis for a Nanaimo Homeowner Weighing Their Options
June Week 1 is telling us that the market is transitioning from a high-energy sprint into a steady, predictable balance.
For Sellers: The massive flood of new competition has slowed down, which gives your property a better chance to stand out. However, because weekly sales dipped to 17, you cannot afford to test the market with an inflated price. Buyers have accumulated an increase in choice from April and May; they are well-educated on values and are taking their time.
For Buyers: The drop in weekly absorption to 31.5% is fantastic news for your purchasing leverage. The initial "panic" of the spring rush has completely cleared out. You have a deeper pool of active inventory to choose from, less immediate competition on open houses, and a stabilized interest rate environment. This week offers a clean, low-stress window to write offers with proper due diligence.
The Strategy: If you are trying to time a transition from a starter home to a larger property, the current stability minimizes your risk. You can list your home into a market where realistic pricing prevents stagnation, and shop for your next home with genuine leverage.
- John Cooper
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