The Greater Vancouver and Lower Mainland housing market is in a unique phase right now. After a prolonged slowdown in sales and elevated inventory levels, conditions have shifted toward a balanced to buyer-friendly market in many segments. Listings are significantly higher than seasonal averages and buyers now have more choice and negotiating power than in recent years, especially in the condo and higher-end segments. 

Modest price softening has eased affordability pressures after several years of rapid growth, but values remain elevated relative to most of Canada, and strong fundamentals like land scarcity and long-term demand support underlying value. Forecasts suggest that mortgage rates are expected to stay steady and sales activity will strengthen through 2026, which could help stabilize prices and set the stage for renewed confidence among both buyers and sellers. 

Why it’s a good time to list • Slower market activity and higher inventory mean well-priced homes can stand out and attract serious buyers. • Buyers have more time to consider offers and are less likely to engage in multiple-offer wars than in past peak cycles. • Forecasts for improved sales activity this year could increase market visibility and buyer traffic. 

Why it’s a good time to buy • Elevated inventory and softer pricing create leverage for buyers to negotiate favorable terms. • Interest rates, while above historical lows, are expected to remain relatively stable, helping with budgeting and affordability. • Entering the market during a balanced phase positions buyers to benefit from potential future price growth as demand returns and inventory tightens. 

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