Metro Vancouver home sales have plummeted to near 25-year lows, marking the most dramatic market shift REALTORS have faced in decades. This historic decline, coupled with the region's rental vacancy rate hitting a 30-year high of 5.5%, signals a fundamental restructuring of Vancouver's housing landscape that demands immediate strategic adjustments from industry professionals.
The convergence of these trends is creating unprecedented opportunities for buyer representation, as market conditions increasingly favor purchasers over sellers for the first time in years. REALTORS must recalibrate their client advisory approach, emphasizing thorough market analysis and realistic pricing strategies while leveraging the expanded inventory and improved negotiating positions now available to buyers.
Political tensions are escalating as 16 Metro Vancouver mayors actively oppose provincial housing legislation, creating regulatory uncertainty that could impact development timelines and approval processes. Simultaneously, Vancouver's Empty Homes Tax success—driving vacant properties below 1,000 units—demonstrates policy effectiveness but may reduce investment property opportunities that have traditionally supported REALTOR business volumes.
This market reset positions knowledgeable REALTORS as essential navigators in an increasingly complex landscape where local expertise and strategic timing will differentiate successful professionals. The emerging dual-market dynamic between urban centers and suburban regions requires REALTORS to develop specialized knowledge across diverse market segments while maintaining agility in rapidly evolving conditions.
Toronto company fined $1M for illegal home building, construction regulator says
A Toronto-based company has been fined $1 million for illegally constructing homes without proper permits, according to the local construction regulator. The violations included unauthorized building work that bypassed safety inspections and zoning regulations, posing risks to occupants and the community. This case underscores the importance for REALTORS and their clients to ensure all properties comply with legal construction standards and have the necessary approvals to avoid costly penalties and potential safety hazards.
November report shows B.C. real estate prices, sales continuing downward
In November 2025, British Columbia's real estate market continued to experience declines in both home sales and prices, reflecting ongoing challenges such as rising interest rates and affordability concerns. The report highlights a notable decrease in sales activity across major regions, including Metro Vancouver and Victoria, with prices softening as buyers remain cautious. This trend suggests a cooling market environment, prompting REALTORS and clients to adjust expectations and strategies accordingly in the current economic climate.
USA Existing Home Sales Inched Up 0.5% in November
Existing-home sales in the U.S. rose modestly by 0.5% in November, reaching an annual rate of 4.09 million units, signaling a slight improvement in market activity despite ongoing challenges such as limited inventory and rising mortgage rates. While sales increased in the Northeast and Midwest, the South and West saw declines, and the median home price edged up 1.3% year-over-year to $384,800. The inventory of unsold homes remained tight at a 3.1-month supply, underscoring continued competition among buyers. REALTORS and clients should note that although sales are stabilizing, affordability pressures and supply constraints persist, influencing market dynamics as the year closes.
Bryan Yu: Metro Vancouver home sales sink to near 25-year low
Metro Vancouver’s housing market has experienced a significant downturn, with home sales plummeting to near a 25-year low due to rising interest rates and affordability challenges. Despite the drop in sales, home prices have remained relatively stable, supported by limited inventory and ongoing demand. The market is currently favoring buyers, but experts suggest that a balanced recovery may take time as economic uncertainties and mortgage stress tests continue to impact buyer confidence.
Milestone reached as Vancouver empty homes fall below 1,000 properties
Vancouver’s Empty Homes Tax (EHT) has seen a significant decline in the number of vacant properties, with the 2023 report showing a record low vacancy rate of 0.3%, down from 0.5% the previous year. The tax, aimed at increasing housing availability, has generated over $100 million in revenue since its inception in 2017, which is reinvested into affordable housing initiatives. The data indicates that the policy is effectively encouraging property owners to rent out or sell unused homes, contributing to the city’s efforts to address housing shortages and improve market accessibility for residents.
16 Metro Vancouver mayors urge B.C. government to unwind housing legislation
Mayors from Metro Vancouver have collectively expressed strong opposition to proposed BC Housing legislation that would grant the provincial agency expanded powers to acquire land and develop affordable housing without local government consent. In a letter to the provincial government, the mayors argue that the legislation undermines municipal authority, bypasses established local planning processes, and could lead to community pushback. They emphasize the importance of collaboration between provincial and local governments to address the housing crisis effectively while respecting municipal roles and community input.
Canadian cities overtake major U.S. cities for fastest-rising home prices
Home prices across Canada have shown signs of stabilization after a period of decline, with some markets experiencing modest increases due to easing mortgage rates and renewed buyer interest. While affordability remains a challenge in major cities like Vancouver and Toronto, the overall market is gradually adjusting to higher interest rates, leading to more balanced conditions between buyers and sellers. REALTORS should advise clients that while opportunities exist, careful consideration of local market dynamics and financing options is essential in the current environment.
Metro Vancouver rental housing vacancy rate hits 30-year high
Metro Vancouver’s rental housing vacancy rate is projected to reach a record high of 5.5% by 2025, driven by a surge in new rental developments and slower population growth. This increase in supply is expected to ease the region’s tight rental market, potentially stabilizing or lowering rents after years of high demand and limited availability. REALTORS and clients should anticipate more rental options becoming available, which may influence rental pricing and investment strategies in the near term.
Metro Vancouver cities where rental affordability is improving most
A recent report from Liv.rent highlights that rental affordability in Metro Vancouver is expected to worsen by December 2025, with average rents projected to rise significantly while income growth remains stagnant. This trend will further strain renters, particularly in the city’s most expensive neighborhoods, intensifying the demand for affordable housing solutions. REALTORS and their clients should be aware of these projections as they impact rental market dynamics, tenant affordability, and the broader housing landscape in the region.
Canadian condo market rebound possible in late 2026 and 2027
Canada’s major condo markets in Vancouver, Toronto, Calgary, and Edmonton are expected to experience varied trends in 2024, with Vancouver and Toronto showing signs of stabilization and modest price growth due to steady demand and limited supply. Calgary and Edmonton are projected to see more balanced conditions, with moderate price adjustments influenced by local economic factors and increased inventory. Overall, the condo market outlook suggests cautious optimism, emphasizing the importance for REALTORS and clients to monitor regional dynamics and market shifts when making buying or selling decisions.
Nanaimo Real Estate Market Report: November 2025
In November 2025, Nanaimo's real estate market experienced a moderate slowdown with a slight decrease in home sales compared to the previous month, while inventory levels remained relatively stable. The average home price showed a marginal decline, reflecting a softening demand amid rising interest rates and economic uncertainty. Despite these shifts, the market continues to favor sellers in certain segments, particularly for single-family homes, though buyers are gaining more negotiating power. REALTORS and clients should anticipate a more balanced market moving forward, with opportunities for both parties depending on property type and location.
From Shortage to Surplus: Canada's Rental Market Enters a Reset Phase
Canada’s rental market is undergoing a significant shift from a long-standing shortage to a growing surplus of available units, driven by increased construction, changing migration patterns, and evolving tenant preferences. This transition is leading to a more balanced market with moderating rent growth and greater choice for renters. REALTORS and their clients should be aware that landlords may face increased competition, while renters could benefit from improved availability and negotiating power, signaling a reset phase in Canada’s rental landscape.
Here's how much it costs to rent a one-bedroom apartment in Metro Vancouver in December
In December 2025, Metro Vancouver experienced a slight decrease in average rent prices, with the overall market showing signs of stabilization after recent fluctuations. One-bedroom units saw a modest decline, while two-bedroom rents remained relatively steady, reflecting a balanced supply and demand dynamic. This trend suggests a more favorable rental market for tenants, though affordability challenges persist in certain neighborhoods. REALTORS and clients should note these subtle shifts as they navigate leasing decisions in the region.
What to watch in commercial real estate in 2026: Retail sector
The commercial real estate market is expected to face significant challenges through 2026, driven by shifting work habits, rising interest rates, and evolving tenant demands. Experts highlight a continued decline in office space demand as remote and hybrid work models persist, prompting landlords to adapt by repurposing or upgrading properties to attract tenants. Industrial and multifamily sectors remain more resilient, though overall market uncertainty calls for cautious investment strategies. REALTORS and clients should prepare for a transitional period marked by increased vacancies and changing property uses, emphasizing flexibility and innovation in commercial real estate decisions.
Mortgage Application Payments Down in November
Mortgage application payments declined in November, reflecting a slowdown in homebuying activity as rising interest rates continue to impact affordability. Both purchase and refinance applications saw decreases, with purchase applications dropping to their lowest level since 1995. The average 30-year fixed mortgage rate remained above 7%, contributing to reduced demand. This trend suggests that buyers and homeowners are becoming more cautious amid higher borrowing costs, which may lead to a more balanced housing market in the near term.
New affordable rental building opens in West Vancouver
A new affordable rental housing building has opened in West Vancouver, offering 44 units aimed at supporting low- to moderate-income residents, including seniors and families. Developed through a partnership between the District of West Vancouver and BC Housing, the project addresses the growing need for accessible rental options in the area. The building features energy-efficient design and community amenities, reflecting a commitment to sustainable and inclusive housing solutions in a high-demand market.
Michael Geller: How B.C. real estate is shaping up for the year ahead
Renowned real estate expert Michael Geller forecasts that British Columbia’s housing market will experience a moderate recovery by 2026, driven by steady population growth and ongoing demand despite current affordability challenges and rising interest rates. He anticipates a gradual price stabilization rather than dramatic increases, with new housing supply playing a key role in balancing the market. Geller advises REALTORS and clients to focus on long-term trends and remain cautious amid economic uncertainties, emphasizing the importance of strategic planning in navigating the evolving real estate landscape.
Fraser Valley realtors give grants to youth group in Langley and beyond
Fraser Valley Realtors have awarded grants to support a youth group in Langley and surrounding areas, aiming to enhance community engagement and provide resources for local young people. The funding will help the organization expand its programs focused on leadership development, mental health awareness, and skill-building activities, reflecting the Realtors’ commitment to investing in the well-being and future of the region’s youth.
Sweeping new housing policies reshaping Downtown Eastside approved
Vancouver City Council has approved a new plan aimed at addressing housing challenges in the Downtown Eastside by introducing policy changes that encourage the development of affordable and supportive housing. The plan focuses on increasing density, streamlining approvals for non-market housing projects, and enhancing protections for existing tenants to prevent displacement. These measures are designed to improve living conditions and provide more stable housing options for vulnerable populations in the area, reflecting the city’s commitment to balancing growth with social equity.
Langley Township mayor among those decrying provincial housing policy
Langley Township Mayor and other local officials have expressed strong criticism of the provincial government’s recent housing policies, arguing that they fail to address the region’s growing affordability crisis and do not adequately support sustainable community development. They emphasize the need for more effective collaboration between provincial and municipal governments to create housing solutions that balance growth with infrastructure and environmental considerations, urging a shift away from top-down mandates toward policies that reflect local needs and priorities.
Rob Shaw: Eby brushes off mayor revolt over B.C. housing laws
In response to growing opposition from several BC mayors regarding recent provincial housing legislation, Rob Shaw of Eby’s office emphasized the government’s commitment to addressing the housing crisis through these laws, which aim to increase housing supply and affordability. Shaw dismissed the backlash as a misunderstanding of the legislation’s intent and stressed collaboration with municipalities to implement solutions effectively, underscoring the province’s focus on long-term housing stability despite local political resistance.
Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market
Home prices in Canada have experienced notable declines in several markets, with the most significant drops occurring in regions that saw rapid price surges during the pandemic. Factors contributing to the downturn include rising interest rates, increased borrowing costs, and a shift in buyer demand. While some cities like Toronto and Vancouver have seen moderate price corrections, smaller markets and previously overheated areas have faced sharper declines. Despite the cooling, experts suggest that the market is stabilizing, offering potential opportunities for buyers as affordability improves, though sellers may need to adjust expectations in the current environment.
November report shows Northern B.C. home sales see downward trend
Home sales in Northern British Columbia experienced a decline in November, continuing a downward trend influenced by rising interest rates and economic uncertainty. Despite the slowdown, the region's housing market remains active, with steady demand for single-family homes and a slight increase in new listings. REALTORS and clients should be aware that while market activity is cooling, opportunities persist for both buyers and sellers as the market adjusts to current financial conditions.
A tale of two markets emerges in B.C. real estate for 2026
The BC real estate market is expected to diverge significantly by 2026, with urban areas like Vancouver facing slower growth and potential price corrections due to high interest rates and affordability challenges, while smaller cities and suburban regions are projected to experience stronger demand and price appreciation driven by migration and lifestyle shifts. This emerging dual-market dynamic highlights the importance for REALTORS and clients to carefully consider location-specific factors, as market conditions will vary widely across the province.
Ad for tiny Vancouver $2,300 rental with no bedroom suggests 2 people 'share'
A recent Vancouver rental listing highlights the growing challenge of housing affordability in the city, featuring a no-bedroom unit shared by two people for $2,025 per month. This situation underscores the increasing demand for rental spaces amid limited supply and rising costs, prompting many renters to accept unconventional living arrangements. The article reflects broader trends in Vancouver’s rental market, where affordability pressures are pushing residents toward smaller, shared accommodations as they navigate the competitive housing landscape.
Bold landmark towers to create a gateway for Surrey City Centre
A prominent development site in Surrey’s Whalley neighborhood, located at 13532-13576 King George Boulevard and 13483-108 Avenue, has been sold to a major Vancouver-based developer. The 1.3-acre property, currently home to low-rise commercial buildings, is slated for a significant mixed-use project featuring multiple high-rise towers with residential, retail, and office spaces. This acquisition aligns with Surrey’s ongoing transformation into a vibrant urban center, supported by rapid transit access and city-led revitalization efforts, making it a key opportunity for investors and homebuyers seeking growth in the region.
Vancouver City Council approves 'safer' versions of single-stair residential buildings
Vancouver city council has approved a new building code amendment allowing single-egress staircases with a scissor design for exterior access in residential buildings, aimed at increasing housing density and affordability. This change permits two separate staircases to be combined into one shared, space-efficient structure while maintaining safety standards, potentially reducing construction costs and enabling more compact multi-family developments. The amendment is expected to facilitate innovative architectural solutions and support the city’s goal of creating more diverse and affordable housing options.
Exhausted Buyer Says Real Estate Listing Photos Use Wide-Angle Lenses And Twilight Filters To 'Catfish' Buyers, But They Just Waste Everyone's Time
A prospective homebuyer shares their frustration with the current real estate market, highlighting challenges such as intense competition, rapidly rising prices, and limited inventory that make finding an affordable home difficult. The buyer describes feeling overwhelmed by bidding wars and the pressure to act quickly, reflecting broader market conditions that are testing the patience and resources of many buyers. This situation underscores the importance for REALTORS and clients to stay informed, be prepared for competitive offers, and consider strategic approaches in a fast-paced housing environment.
Slow and steady improvement in sales as the year wraps up
As 2025 comes to a close, the real estate market shows a gradual but consistent improvement in home sales, driven by stabilizing mortgage rates and increased buyer confidence. Inventory levels remain tight, supporting steady price growth, while sellers are cautiously optimistic about demand. Experts suggest that this slow and steady momentum is likely to continue into the new year, offering balanced opportunities for both buyers and sellers in a market that is recovering from earlier volatility.
(USA) The Best Real Estate Moves for Buyers, Sellers and Renters in 2026
The real estate market in 2026 is expected to experience moderate growth with a continued shift toward suburban and smaller city living, driven by affordability concerns and remote work trends. Buyers should anticipate steady but slower home price appreciation, while renters may face rising rents due to limited new construction and sustained demand. Sellers might encounter a more balanced market, requiring realistic pricing and flexibility. Overall, the outlook suggests cautious optimism, with opportunities for both buyers and sellers amid evolving economic and demographic factors.
Metro Vancouver's real estate landscape is positioning for a fundamental market shift through 2026, with rental vacancy rates reaching 30-year highs and sales volumes hitting near 25-year lows creating distinct opportunities for strategic professionals. The emerging "tale of two markets" will reward REALTORS who specialize in specific segments - urban markets facing continued cooling versus suburban areas showing resilience and growth potential.
Focus your business development on rental market expertise and suburban expansion strategies as traditional sales models adapt to lower transaction volumes. The surplus rental supply presents opportunities to build property management partnerships and serve investor clients pivoting from speculative buying to income-focused strategies. Additionally, the growing opposition to provincial housing policies from 16 Metro Vancouver mayors signals potential regulatory changes that could create new development opportunities for clients positioned to move quickly.
Monitor three critical risk factors that could accelerate market disruption: escalating municipal-provincial conflicts over housing legislation, potential construction quality issues following the $1M Toronto fine precedent, and the timeline uncertainty around the projected late 2026-2027 condo market rebound. These factors will separate prepared professionals from those caught off-guard by rapid policy or market shifts.
Immediate action items include diversifying your service offerings beyond traditional sales, building relationships with suburban market centers like Surrey's emerging gateway projects, and developing rental market expertise to capture the shifting demand patterns. Position yourself as the go-to expert for clients navigating between Vancouver's cooling urban market and the growth opportunities in outlying communities where affordability and policy stability create competitive advantages.
News Sources
- (North Shore News) Toronto company fined $1M for illegal home building, construction regulator says
- (CityNews Vancouver) November report shows B.C. real estate prices, sales continuing downward
- (Weekly Real Estate News) USA Existing Home Sales Inched Up 0.5% in November
- (Business in Vancouver) Bryan Yu: Metro Vancouver home sales sink to near 25-year low
- (Daily Hive Vancouver) Milestone reached as Vancouver empty homes fall below 1,000 properties
- (Daily Hive Vancouver) 16 Metro Vancouver mayors urge B.C. government to unwind housing legislation
- (Daily Hive Vancouver) Canadian cities overtake major U.S. cities for fastest-rising home prices
- (Daily Hive Vancouver) Metro Vancouver rental housing vacancy rate hits 30-year high
- (Daily Hive Vancouver) Metro Vancouver cities where rental affordability is improving most
- (Daily Hive Vancouver) Canadian condo market rebound possible in late 2026 and 2027
- (NanaimoNewsNOW) Nanaimo Real Estate Market Report: November 2025
- (Financial Post) From Shortage to Surplus: Canada's Rental Market Enters a Reset Phase
- (Vancouver Is Awesome) Here's how much it costs to rent a one-bedroom apartment in Metro Vancouver in December
- (Yahoo Finance) What to watch in commercial real estate in 2026: Retail sector
- (Weekly Real Estate News) Mortgage Application Payments Down in November
- (North Shore News) New affordable rental building opens in West Vancouver
- (Vancouver Sun) Michael Geller: How B.C. real estate is shaping up for the year ahead
- (Langley Advance Times) Fraser Valley realtors give grants to youth group in Langley and beyond
- (Daily Hive Vancouver) Sweeping new housing policies reshaping Downtown Eastside approved
- (Langley Advance Times) Langley Township mayor among those decrying provincial housing policy
- (Business in Vancouver) Rob Shaw: Eby brushes off mayor revolt over B.C. housing laws
- (Financial Post) Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market
- (My Prince George Now) November report shows Northern B.C. home sales see downward trend
- (Business in Vancouver) A tale of two markets emerges in B.C. real estate for 2026
- (Vancouver Is Awesome) Ad for tiny Vancouver $2,300 rental with no bedroom suggests 2 people 'share'
- (Daily Hive Vancouver) Bold landmark towers to create a gateway for Surrey City Centre
- (Daily Hive Vancouver) Vancouver City Council approves 'safer' versions of single-stair residential buildings
- (Yahoo Finance) Exhausted Buyer Says Real Estate Listing Photos Use Wide-Angle Lenses And Twilight Filters To 'Catfish' Buyers, But They Just Waste Everyone's Time
- (RealEstateNews.com) Slow and steady improvement in sales as the year wraps up
- (Bloomberg.com) (USA) The Best Real Estate Moves for Buyers, Sellers and Renters in 2026
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