Dan Pigott : Royal LePage Sussex Pigott Properties : Archived blog posts for : December 2025

December Report

Posted on December 19, 2025 by Dan Pigott

Vancouver Housing Market Outlook:
2026 Reset Year

After a volatile 2025, Canada’s housing market is expected to stabilize in 2026—but Vancouver is forecast to continue adjusting. According to Royal LePage’s latest Market Survey Forecast, improved affordability, lower interest rates and increased inventory are slowly drawing buyers back, though momentum in Greater Vancouver remains subdued.

Greater Vancouver at a glance (Q4 2026 forecast):

Aggregate home price: down 3.5% year over year to $1,147,868
Single-family detached homes: down 5.0% to $1,610,915
Condominiums: down 3.0% to $712,853

What’s driving the Vancouver market

Buyer hesitation: Sales remain well below the 10-year average, with higher inventory levels and longer days on market. Many buyers are watching prices edge down and feel little urgency to act.
Economic uncertainty: Concerns about the broader economy and attempts to “time the market” are keeping both first-time and move-up buyers on the sidelines.
Move-up challenges: A growing number of transactions are conditional on the sale of an existing home, reflecting a slower, more cautious market.

Interest rates and affordability
The Bank of Canada’s rate-cutting cycle has brought the overnight rate down to 2.25%, and borrowing costs have largely stabilized. While further cuts appear unlikely in the near term, the clarity around rates is helping rebuild confidence and could unlock demand as buyers adjust to the new normal.

Supply pressures continue
Vancouver is facing a decline in housing starts, driven by weaker investor demand and fewer pre-construction sales. While this may limit future supply, current inventory levels remain elevated, contributing to ongoing price softness.

Looking ahead
Royal LePage notes that even a modest shift—such as a small drop in inventory or a slight improvement in buyer confidence—could increase activity in 2026. For now, market conditions in Greater Vancouver continue to favour patient buyers, with more choice and negotiating power than in recent years.

Bottom line, 2026 is shaping up as a transition year for Vancouver real estate. Prices are expected to ease further, activity should build gradually, and opportunities may emerge for buyers ready to move in a less competitive market.

-Dan Pigott 604-862-4124

Last Month’s Listings and Sales

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News From the Real Estate Board

Housing market sees little change as year-end nears

Andrew Lis, GVR chief economist and vice-president data analytics reports that, “As the year draws to a close, the data continues telling a story of a market with many buyers patiently waiting and sellers adjusting to market conditions not seen in years. Inventory remains healthy, providing buyers ample choice, which, by contrast, is pushing sellers to accept that pricing must reflect this new reality. Buyers and sellers are striking deals when their expectations are aligned and reflective of the current market – not the market of years ago.” 

“As sales volumes remain subdued and inventory remains plentiful, properties are taking longer to sell, and pricing has continued to soften slightly across most market segments,” Lis said. “With borrowing costs likely to remain steady into the new year, any uptick in demand will need to arise from a significant change in buyer sentiment. As December is typically among the quietest months of the year in terms of market activity, the prevailing trends suggest we should expect a quiet close to a year marked by considerable uncertainty.”

The Board reports that for Metro Vancouver the sales-to-active listings ratio* for the month of November were by property type: