02/15/2026
January Market Update
January’s results continued the trend that closed out 2025 with lower sales volumes, heightened inventories and downward pressure on home prices. Home sales were almost 29% lower than those in January 2025, and only marginally higher than back in January of 2023, after the Bank of Canada had imposed 7 straight interest rate hikes on consumers that previous year.
Conditions remained unsettled in January with continued uncertainty regarding the threat of tariffs, fears of recession and global political instability. However, there’s definitely a silver lining in that buyers had a wide variety of purchasing options and were seeing more pragmatism and flexibility from Sellers. Buyer-friendly conditions prevailed in January, with the sales-to-active listings ratio dropping to 9.0% in Metro Vancouver - It’s said that when this metric drops below 12% for an extended period, it puts downward pressure on home prices, and there was indeed a 1.1% decrease across all property segments from December 2025.
According to Andrew Lis, GVR’s chief economist and vice-president, data analytics: “As consumers adjust to the ongoing backdrop of political and economic uncertainty, we expect a degree of pent-up demand to re-enter the market at some point. Whether it will happen in 2026 remains an open question, and we’ll be watching the market closely for signs of improvement.”
Even if the current market conditions represent a “new normal” of lower sales volumes relative to the historical norm, we should expect some additional sales activity in the coming months stemming from a stable, favourable financing environment for Buyers, along with some positive indications of resilience and guarded optimism about the Canadian economy for 2026.
As always, market trends may follow the same patterns across all parts Metro Vancouver, but actual results can vary considerably by area, property type and price segment. How the current affects you and your specific real estate needs is something I look forward to discussing with you directly. Reach out to me to get started!