Vancouver Housing Market Outlook 2026

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Vancouver Home Sales Fall Nearly 30% Below Seasonal Norms

Metro Vancouver entered 2026 with momentum still working against it. January home sales fell nearly 30% from last year, marking one of the slowest starts in over 20 years. At the same time, active listings climbed to roughly 38% above the 10-year seasonal average, creating a clear supply-demand imbalance.

This combination of weaker sales and elevated inventory is shifting market power toward buyers. The sales-to-active listings ratio remains below the level that typically signals upward price pressure, indicating that downward pressure on pricing may persist if conditions do not tighten.

Why Are Metro Vancouver Sales So Weak?

Metro Vancouver sales are soft as homebuyers remain cautious, while supply has stayed elevated. Buyers are adjusting to economic uncertainty, higher ownership costs compared to pre-pandemic years, and a market that no longer rewards urgency.

Last year ended with one of the lowest annual sales totals in decades, and January’s performance reflects that slow carryover momentum rather than a sudden shock. Market psychology is gradually shifting toward a new normal defined by steadier, lower transaction volumes.

What is Happening to Vancouver Home Prices?

Metro Vancouver benchmark home prices are down year over year across detached, attached and apartment segments. Monthly declines remain modest, suggesting gradual normalization rather than a sharp correction cycle.

Detached homes have seen the largest absolute price adjustments, while the apartment and townhouse segments continue to face competitive pressure from higher inventory levels. Price stabilization will likely depend on whether demand strengthens later in the year.

Where is the Market Stronger Or Weaker Within Vancouver?

Areas closer to Vancouver’s urban core are expected to show more resilience, particularly for apartment condominiums. Suburban markets farther from employment centres may require additional price adjustments before sales volumes improve.

Ground-oriented attached homes in well-connected North Fraser communities may outperform due to relative pricing advantages and commuting access. High-priced detached homes are unlikely to see meaningful appreciation in the near term, given affordability limits.

What is the Outlook for Housing in Vancouver?

Metro Vancouver’s resale market is expected to remain subdued through much of 2026. Sales may rebound moderately if pent-up demand re-engages the market, but activity will likely remain below long-term averages.

New housing starts are projected to decline, largely due to weak condominium presales and high construction costs. Rental construction has been strong in recent years, but rising vacancy rates may temper momentum for future projects.

Housing in Metro Vancouver is not collapsing; it is adjusting to a slower-demand environment with elevated supply. Buyers have more leverage, sellers must price strategically, and meaningful price growth will likely require a sustained recovery in sales activity.

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Vancouver Housing Market Highlights

• The average selling price of a home in Vancouver decreased by 5.7% year-over-year to $1,101,900 in January.
• The average selling price of a single-family home in Vancouver decreased by 6.9% year-over-year to $1,858,900 in January.
• The average selling price of a townhouse/multiplex in Vancouver decreased by 5.4% year-over-year to $1,043,400 in January.
• The average selling price of a condo in Vancouver decreased by 5.9% year-over-year to $704,600 in January.
• The average rent in Vancouver is now $2,650 for January.
• February 20, 2026: Today’s lowest mortgage rate in Vancouver is for a 5-year fixed.

Data from the Greater Vancouver Realtors (GVR) indicates that the average price of resale residential homes sold across Vancouver in January was $1,101,900, and itdecreased of 5.7% compared to a year ago.

GVR also reported a sales-to-new-listings ratio (SNLR) of 21%, indicating Buyers market conditions in Vancouver for January.

Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Transactions –  Number of Sales

New Listings

Real Estate Market

The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% suggests a buyer’s market, where buyers have the upper hand and greater negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market. 

Annual Changes to Composite Home Prices in Vancouver

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Vancouver Market Rents Snapshot

The average rent in Vancouver was $2,650 for the month of January.

The average rent for a 1-bedroom apartment in Vancouver was $2,362 for the month of January, which decreased by 6.3% year over year.

The average rent for a 2-bedroom apartment in Vancouver was $3,279 for the month of January, which decreased by 4.8% year over year.

Rental Price Changes by City

Rank	CITY	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,958	$2,469	$3,287	−2.2%
2	Vancouver	$2,650	$2,362	$3,279	−4.8%
3	Oakville	$2,502	$2,216	$2,576	−19.3%
4	Toronto	$2,504	$2,183	$2,801	−8.6%
5	North York	$2,528	$2,127	$2,688	−1.9%
6	Burnaby	$2,505	$2,144	$2,809	−6.7%
7	Coquitlam	$2,524	$2,107	$2,765	−3.9%
8	Mississauga	$2,446	$2,043	$2,454	−8.6%
9	Etobicoke	$2,382	$2,102	$2,562	−8.3%
10	Kanata	$2,412	$2,238	$2,502	−17.3%
11	Brampton	$2,361	$1,910	$2,208	−7.2%
12	Kingston	$2,315	$1,968	$2,502	22.0%
13	Scarborough	$2,318	$1,910	$2,417	−5.6%
14	Vaughan	$2,266	$2,082	$2,499	−6.7%
15	Greater Sudbury	$2,067	$1,918	$2,167	−2.4%
16	Langley	$2,344	$2,071	$2,465	−1.8%
17	Burlington	$2,376	$2,065	$2,443	−5.0%
18	Ajax	$2,248	$1,814	$2,229	−4.5%
19	Halifax	$2,270	$2,052	$2,500	0.10%
20	Victoria	$2,224	$1,942	$2,605	−5.1%
21	Guelph	$2,159	$1,979	$2,291	−4.0%
22	Kelowna	$2,015	$1,686	$2,124	−10.8%
23	Surrey	$2,124	$1,818	$2,249	−8.5%
24	Ottawa	$2,127	$1,945	$2,458	−2.8%
25	New Westminster	$2,120	$1,872	$2,611	−7.4%
26	Waterloo	$2,230	$2,028	$2,367	−2.7%
27	Oshawa	$2,121	$1,753	$2,052	−5.4%
28	Nanaimo	$2,055	$1,820	$2,328	8.20%
29	Barrie	$2,154	$1,904	$2,184	−1.2%
30	East York	$2,302	$1,963	$2,554	−4.3%
31	Hamilton	$2,069	$1,753	$2,086	0.40%
32	Brossard	$2,066	$1,794	$2,169	1.60%
33	Cambridge	$2,057	$1,797	$2,101	−6.4%
34	Kamloops	$1,992	$1,805	$2,161	5.60%
35	Airdrie	$1,954	$1,450	$1,739	−0.9%
36	Laval	$2,098	$1,710	$2,348	11.00%
37	Kitchener	$2,013	$1,819	$2,130	−4.5%
38	Brantford	$1,979	$1,802	$2,058	0.50%
39	Niagara Falls	$1,929	$1,684	$1,899	−9.4%
40	Montreal	$1,913	$1,710	$2,216	−1.3%
41	London	$1,916	$1,650	$2,051	−4.5%
42	Gatineau	$1,885	$1,655	$2,072	−4.7%
43	Calgary	$1,871	$1,535	$1,850	−3.9%
44	Peterborough	$1,973	$1,677	$1,991	−2.3%
45	St. Catharines	$1,827	$1,608	$1,945	−1.2%
46	Welland	$1,675	$1,506	$1,823	−0.4%
47	Windsor	$1,658	$1,523	$1,839	−0.1%
48	Sarnia	$1,728	$1,508	$1,833	−3.9%
49	Winnipeg	$1,664	$1,409	$1,796	3.10%
50	Côte Saint-Luc	$1,535	$1,402	$1,787	−21.4%
51	Edmonton	$1,591	$1,279	$1,619	−2.6%
52	Saskatoon	$1,566	$1,350	$1,554	4.50%
53	Lethbridge	$1,528	$1,369	$1,570	0.70%
54	Quebec City	$1,485	$1,364	$1,646	−12.3%
55	Red Deer	$1,529	$1,219	$1,489	5.90%
56	Regina	$1,466	$1,255	$1,538	4.80%
57	Fort McMurray	$1,370	$1,167	$1,419	−1.3%
58	Medicine Hat	$1,372	$1,217	$1,395	0.10%
59	Lloydminster	$1,235	$1,025	$1,340	7.70%
60	St. John's	$1,238	$1,086	$1,250	−6.4%

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership in Vancouver?

Each $100,000 in mortgage balance costs an average of $509.35 per month on nesto’s lowest fixed 5-year rate at and $495.28 per month on nesto’s lowest adjustable 5-year rate at .

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.23. The rates used for calculation are those offered for insured purchases with less than a 20% downpayment and a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is set to 4.45%.

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Frequently Asked Questions (FAQ) About the Vancouver Housing Market Outlook for 2026

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nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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