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The recent interest rate hike by the Bank of Canada is expected to have a moderate impact on the real estate market in Metro Vancouver. While the hike is expected to increase the cost of borrowing for prospective homebuyers, it is not expected to be a significant enough factor to cause a decline in the market. The strong demand for housing in the area, driven by factors such as job growth and immigration, is expected to continue to support the market.

However, the hike may lead to a slowdown in the pace of price appreciation, as higher borrowing costs may make it more difficult for some buyers to enter the market. This, in turn, may result in a decline in the number of multiple offers and bidding wars, which have been common in the Vancouver market in recent years.

That being said, the impact of the interest rate hike on the Vancouver real estate market is likely to be limited, as interest rates remain low by historical standards. The market is also expected to continue to be supported by the low supply of housing, as well as strong economic growth in the region.

In conclusion, while the recent interest rate hike may have some impact on the Metro Vancouver real estate market, it is not expected to be a major factor in the near term. The market is expected to remain strong, supported by strong demand and a limited supply of housing.