02/25/2026
MARKET UPDATE
“New year, same housing market in Metro Vancouver”
Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver were 28.5 per cent lower than last year, setting the year off to a quieter start.
“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.“
“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid. When paired with sellers remaining eager to list, inventory will likely remain elevated relative to historical averages and, as a result, we expect prices to finish the year relatively unchanged,” Lis said. “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.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,101,900. This represents a 5.7 per cent decrease over January 2025 and a 1.2 per cent decrease compared to December 2025.
now, remember that this is for Metro Vancouver, which is a large area. Different municipalities look different from one another and then breaking it down much deeper into neighborhood, property type, and Price band give you a much clearer idea of what’s happening in an area that matters to you.
if you’re looking for more information for your specific situation, just reach out! Happy to wax poetic for as long as you’ll listen 😉
