January 2026 - Vancouver Real Estate Market Update - Cari Mai<br>Personal Real Estate Corporation

What 2025 Taught Us and What It Means for Buyers and Sellers in 2026

2025 will go down as one of the most memorable, and challenging, years in Vancouver real estate history. Sales fell to a 20-year low, inventory climbed to levels we haven’t seen since the 1990s, and prices continued to soften across the region. Yet despite lower borrowing costs, activity remained muted for much of the year. Here’s a clear breakdown of what happened in the Vancouver housing market in 2025, where we’re starting 2026, and what it means if you’re thinking about buying or selling this year.

Vancouver Home Sales Hit a 20-Year Low in 2025

One of the biggest headlines from 2025 was the lack of sales.

⬇️ Sales were 25% below the 10-year annual average
⬇️ 10% lower than total sales in 2024
⬇️ 13% lower than December 2024

This wasn’t a typical slow year — it was a year defined by hesitation. Buyers stayed cautious, and many sellers chose to wait rather than adjust pricing expectations. The result? Fewer completed transactions than Vancouver has seen in two decades.

Inventory Climbed to Levels Not Seen Since the 1990s

While sales slowed, the number of homes available for sale moved in the opposite direction.

New Listings

⬆️ Up 10% compared to December 2024
⬆️ 10% above the 10-year seasonal average

Total Homes Listed for Sale

⬆️ Up 15% year-over-year
⬆️ 35% above the 10-year seasonal average
⬆️ 13% above the 10-year total annual average

This combination — weak sales and rising inventory — gave buyers more choice than they’ve had in years, especially compared to the ultra-competitive markets of 2020–2022.

Vancouver Home Prices Continue to Adjust

The MLS® Home Price Index (HPI) benchmark price now sits at: $1,114,800

⬇️ Down 4.5% from December 2024
⬇️ Down 1% from November 2025
Prices didn’t collapse — but they did reset. The market slowly moved away from peak pricing, particularly for homes that were overpriced or didn’t stand out in a crowded market.

2025: The Year of “Wait and See”

So what actually caused this slowdown? 2025 was the year of waiting.

Trade tensions created economic uncertainty
A federal election added hesitation
Buyers waited for prices to bottom
Sellers waited for 2024 pricing to return

This gap in expectations caused a standoff. Many homes sat on the market for 6 to 9 months, not because there were no buyers — but because buyers simply ignored listings that felt overpriced. Even though borrowing costs came down by nearly a full percentage point, buyer confidence didn’t follow.

A Shift in Seller Behaviour Heading Into 2026

One of the most important changes we’re seeing now is seller mindset. As we enter January 2026, fewer sellers are “testing the market” at optimistic prices. Instead, many are pricing more realistically from the start — recognizing that today’s buyers are informed, selective, and patient. Overpriced listings aren’t being negotiated — they’re being skipped.

What the Bank of Canada and Big Banks Are Signaling

With the Bank of Canada indicating that rate cuts are likely near their floor, and major banks like RBC forecasting a possible additional price dip before a broader reset, the message for 2026 is clear: This is not a year to rush.

It’s a year to position yourself properly. For buyers, that means leverage, choice, and negotiation power.
For sellers, it means pricing, preparation, and strategy matter more than ever.

What This Means for Buyers and Sellers in Vancouver

If You’re Buying

More inventory = more options
Less competition than past years
Strong negotiating environment

If You’re Selling

Pricing correctly is critical
“Testing the market” is costly
Preparation and strategy matter more than timing

Thinking About Buying or Selling in 2026?

The Vancouver real estate market has shifted — and the old rules no longer apply. If you want to know what your home is actually worth in today’s market, or how to position yourself smartly in 2026, feel free to send me a DM. I’m happy to walk you through your options and help you make a confident plan.