Greater Vancouver's housing market enters 2026 facing significant headwinds, with the Canadian Real Estate Association downgrading its national sales forecast and Royal LePage projecting the region will experience the second-largest price decline among major Canadian cities at 3.5% by year-end. December data confirmed the challenging conditions, with B.C. home sales falling nearly 6% year-over-year to 4,271 transactions—roughly 18.5% below the 10-year average—while Greater Vancouver specifically saw sales plummet 12.5% and average prices drop to approximately $952,000.

The presale condominium market is bearing the brunt of buyer hesitation, with sales reported down "50% plus" compared to recent years as the gap between new-build and resale pricing widens. This slowdown is extending sales cycles and contributing to project cancellations, while homebuilders are urging Metro Vancouver to reverse Development Cost Charge increases that took effect January 1, warning the additional fees could further constrain new construction during an already fragile period. The compounding effect of higher development costs, increased regulation, and trade-related uncertainty is creating genuine concern about future supply constraints.

Despite near-term challenges, CREA forecasts B.C. will lead the national recovery with sales growth exceeding 8% in 2026, driven primarily by pent-up demand from first-time buyers who have been sidelined by affordability concerns. Vancouver City Council's approval of over 3,000 new homes in the second half of 2025—including 2,470 purpose-built rentals—along with the Rupert-Renfrew Station Area Plan enabling six-storey apartments on 2,600 single-family lots, signals sustained policy commitment to increasing housing supply near transit corridors.

The new BCFSA and Greater Vancouver Realtors data-sharing partnership represents a meaningful shift toward streamlined regulatory oversight, reducing reporting burden while enhancing market transparency. For REALTORS navigating this transitional market, the combination of stabilizing interest rates, elevated inventory levels, and motivated first-time buyers creates opportunities for those who can effectively match cautious sellers with qualified purchasers ready to act on improved affordability conditions.

Jan 10 - 16, 2026

Weekly Real Estate Review

for REALTORS®

B.C. home sales and prices both down about 6% last month, amid Lower Mainland slump

B.C. home sales fell nearly 6% year-over-year in December, with weakness largely concentrated in the Lower Mainland. The B.C. Real Estate Association reported 4,271 residential sales—about 18.5% below the 10-year December average—while the average home price dropped 5.6% to roughly $952,000. Total sales value also declined 14.5% to about $4.1 billion, led by Greater Vancouver where sales fell 12.5%, while Victoria dipped 10.6% and the Okanagan was a bright spot with a 7.7% increase.

3,000 new homes approved by Vancouver City Council, including 15 towers

Between July and December 2025, Vancouver City Council approved rezoning for 10 major residential projects, greenlighting over 3,000 new homes — including 15 residential towers — despite fewer large proposals reaching public hearing compared to the first half of the year. Most of the approved homes are secured purpose-built rentals (2,470 units, including 335 below-market), alongside 336 social housing units and 233 strata ownership condos. The second half of 2025 also featured several lengthy public hearings focused on major housing policy changes.

Vancouver to see second-biggest drop in home prices among major cities this year

Royal LePage forecasts Greater Vancouver will see one of Canada’s largest home price declines in 2026, with the aggregate home price expected to drop 3.5% by Q4 compared to a year earlier — second only to Toronto’s projected 4.5% decrease. After Lower Mainland sales hit a 25-year low in 2025 and prices dipped 4.1% in late 2025, the market is expected to see slightly higher spring activity as interest rates stabilize, but rising inventory may keep prices under pressure. Despite softening, Greater Vancouver remains one of the country’s priciest markets, with an aggregate home price of about $1.18M in 2025.

Homebuilders urge Metro Vancouver to cancel fee hikes amid fragile market

Major homebuilders are urging Metro Vancouver Regional District to reverse its Development Cost Charge (DCC) increases that took effect Jan. 1, 2026, warning the higher fees could further slow new housing construction during an already fragile market. In a Jan. 12 letter to the regional board, Zenterra Developments president Rick Johal said the phased hikes will add significant costs at a time when home sales are at historic lows. DCCs are paid to fund major regional infrastructure needs such as sewage treatment and drinking water upgrades, and developers note they already face additional charges from municipalities and TransLink.

Fraser Valley Real Estate Board expects housing sales to speed up in 2026

The Fraser Valley Real Estate board says 2025 was a year of uncertainty and apprehension for buyers and sellers in the region. But as Kier Junos reports, the board is expecting sales to speed up in 2026.

A look at what people are saying about CREA's 2026 home sales forecast

CREA forecasts a national rebound in 2026, projecting home sales to rise 5.1% and the average home price to increase 2.8% to $698,881, after a tariff-driven slowdown last year. Analysts are split on what comes next: CREA points to lower mortgage rates and hopes for a stronger spring market, while Royal LePage says improved affordability, stable prices, and “Goldilocks” inventory create opportunity—especially for first-time buyers. However, TD, NerdWallet, and BMO warn affordability remains strained, economic uncertainty could keep demand weak, and the spring market will depend on whether pent-up demand outweighs pent-up supply.

CREA Updates Resale Housing Market Forecast for 2026 and 2027

CREA has updated its resale housing outlook for 2026 and added a new forecast for 2027, expecting a rebound after tariff-driven uncertainty kept 2025 slower than hoped. National MLS home sales are projected to rise 5.1% in 2026 to 494,512 transactions, led by B.C. and Ontario (both forecast to climb over 8%), as pent-up demand—especially from first-time buyers—returns alongside interest rates that have likely fallen “far enough” to improve attainability. The national average home price is forecast to increase 2.8% to $698,881 in 2026, then sales are expected to grow another 3.5% in 2027 to 511,966, with average prices edging up 2.3% to $714,991, keeping Canada’s average home price near the $700K range for a seventh straight year.

Metro Vancouver presale condo sales down ‘50% plus’ Realtor says, amid buyer uncertainty

A Vancouver Realtor says Metro Vancouver’s presale condo market has been hit especially hard, with presale sales down “50% plus” compared to a few years ago as buyers hesitate amid economic uncertainty and a widening gap between new-build and resale prices. The slowdown is leading to longer sales cycles and more stalled or cancelled projects, even though buyer deposits are generally protected if a project collapses. Realtor Mike Stewart says higher development costs, increased regulation, weaker resale pricing, and ongoing uncertainty tied to U.S. tariffs and trade tensions are all hurting confidence—raising concerns that fewer new projects today could tighten future supply and fuel the next price surge.

Trade war jitters send Canadian housing market into year-end slump, CREA reports

CREA says trade-war uncertainty helped push Canada’s housing market into a year-end slump, with December home sales down 4.5% year-over-year and 2025 sales slipping 1.9% overall, even after a mid-year rally. Looking ahead, CREA now forecasts 494,512 home sales in 2026 (+5.1%), a downgrade from its earlier 7.7% growth outlook, as buyers remain cautious despite borrowing costs stabilizing. The national average home price is projected to rise 2.8% to $698,881 in 2026 (also revised down), with further gains expected in 2027, while B.C. and Ontario are forecast to lead the rebound due to more room to recover after being hit hardest by 2025’s trade-related uncertainty.

Nanaimo Real Estate Market Report: December 2025

Nanaimo’s real estate market closed out 2025 on a steady note, with 69 single-family home sales in December (down 5% from November but up 15% year-over-year) and 837 active listings across the Mid-Island, roughly unchanged from last year. The average Nanaimo single-family sale price held firm at $856,938, matching both the prior month and December 2024, while benchmark prices across Central and North Vancouver Island were largely stable year-over-year—Nanaimo at $794,700, Campbell River at $670,900, Comox Valley at $847,200, and Cowichan Valley at $752,700—with modest gains in places like Parksville-Qualicum (+3%), Port Alberni (+6%), and the North Island (+3%).

Where Canada’s real estate market is headed in 2026

The Canadian Real Estate Association predicts a slight housing market rebound this year after a sluggish 2025. But while home prices dip in big cities like Toronto and Vancouver, they’re shooting up in smaller ones like Regina and Quebec City.

Pent-Up Demand Poised To Nudge Canadian Home Sales Higher In 2026: CREA

CREA expects Canada’s resale housing market to regain modest momentum in 2026, driven mainly by pent-up demand from first-time buyers after a stop-start recovery in 2025 that was slowed early on by U.S. tariff uncertainty but rebounded mid-year. National home sales are forecast to rise 5.1% to 494,512 transactions in 2026, led by B.C. and Ontario (both expected to grow over 8%), while the national average home price is projected to increase 2.8% to $698,881. CREA also sees continued but steady growth in 2027, with sales up 3.5% to 511,966 and prices up 2.3% to $714,991, suggesting stabilization rather than a major surge.

5,800+ hotel rooms across 29 projects in Vancouver's development pipeline

Vancouver’s hotel development pipeline now includes over 5,800 proposed new hotel rooms across 29 projects at various stages, which—if built—would cover nearly 60% of Destination Vancouver’s estimated need for 10,000 additional rooms in the city to address a growing accommodation shortage. A City of Vancouver staff report outlines 3,950 rooms tied to 14 rezoning applications, plus additional projects in the development and building permit stages, with some already completed or under construction. While financing and construction costs make many proposals uncertain, strong tourism demand, weaker conditions for other real estate sectors, and recent city policies allowing more hotel density and flexibility are helping drive a renewed push for new hotel builds, including a mix of short-term and longer-stay accommodations.

The saga of two Beijing Opera workers who transferred almost $60 million into Metro Vancouver real estate

A dramatic B.C. Supreme Court case details how two Beijing Opera House workers, Tong “Tony” Zhang Jr. and singer Danyang Yang, reportedly built a massive fortune in China’s booming 2010s real estate market and moved nearly $60 million into Metro Vancouver properties as part of a plan to relocate their family to Canada. The couple alleged a trusted Vancouver-based friend and business partner, Hang Yin (“Uncle Yin”), misappropriated millions by diverting funds through numbered companies into properties he controlled, sparking a bitter ownership dispute involving about a dozen homes across Vancouver, West Vancouver, Burnaby, Richmond, Surrey, and more. The judge criticized Yin’s credibility and conduct, noted concerns about large cash transfers, and ultimately ruled Zhang’s estate is entitled to recover most of the overseas wealth after Zhang died in 2022 while the long-running lawsuit continued.

A dramatic B.C. court case reveals how one family moved huge sums of money from China to Metro Vancouver

A recent British Columbia court case has exposed how a family transferred large sums of money from China to Metro Vancouver through complex financial maneuvers, highlighting challenges in tracking cross-border capital flows in real estate. The case underscores the importance for REALTORS and clients to conduct thorough due diligence on the source of funds in property transactions, as authorities increasingly scrutinize international money movements to combat money laundering and ensure compliance with Canadian regulations.

A dramatic remake is being pitched for the former Vancouver Army & Navy site

A proposed redevelopment of Vancouver’s Army and Navy site envisions replacing the existing retail complex with three residential towers totaling 1,200 units, alongside retail and community spaces. The plan aims to create a mixed-use neighborhood with improved public amenities, enhanced pedestrian connections, and sustainable design features. The developer seeks to balance increased density with preserving some heritage elements and addressing community concerns about affordability and infrastructure capacity. This project reflects ongoing efforts to revitalize key urban sites while responding to housing demand in Vancouver.

Renewing a mortgage in 2026? Prepare for sticker shock, but no bubble

By 2026, a significant wave of Canadian homeowners will face mortgage renewals, with many potentially encountering higher interest rates due to recent Bank of Canada hikes and tighter lending rules. REALTORS and their clients should be aware that this could impact affordability and refinancing options, making it crucial to start early conversations with lenders to explore strategies such as locking in fixed rates, considering shorter amortization periods, or budgeting for increased payments. Understanding these upcoming challenges can help homeowners better prepare for mortgage renewals and make informed decisions in a shifting market.

Former Four Seasons Hotel Vancouver tower now being demolished

The Four Seasons Hotel in Vancouver is undergoing a carefully managed demolition process using advanced Brokk robotic technology to safely dismantle the building from the inside out. This method minimizes noise, dust, and disruption in the densely populated downtown area, allowing for a more controlled and efficient teardown ahead of the site's planned redevelopment. The project highlights innovative demolition techniques that prioritize safety and environmental considerations in urban real estate transformations.

Feds kick in funds to renovate Richmond affordable housing

The federal government has committed funding to renovate affordable housing units in Richmond, aiming to improve living conditions and support community sustainability. This investment will upgrade existing properties, enhance energy efficiency, and ensure long-term affordability for low-income residents. The initiative reflects a collaborative effort between federal, provincial, and local authorities to address housing challenges and promote inclusive, safe, and accessible homes in the Richmond area.

Regina realtor fined $10K, suspended for tampering with Google Business profiles

A Regina realtor was fined $10,000 and suspended for six months by the Saskatchewan Real Estate Commission after being found guilty of tampering with Google business profiles to mislead clients. The realtor manipulated online reviews and ratings to create a false impression of credibility and professionalism, violating ethical standards. This case highlights the importance of honesty and transparency in real estate marketing and serves as a warning to professionals about the consequences of deceptive practices.

BCFSA and Greater Vancouver Realtors form data-sharing partnership

BCFSA and Greater Vancouver Realtors (GVR) have launched a pilot data-sharing partnership to improve data-driven real estate oversight while reducing reporting burden for professionals. BCFSA will gain real-time access to transaction data in the GVR region to monitor trends, assess regulatory impacts, and identify systemic risks earlier, while GVR will receive on-demand access to BCFSA licensing data. As part of the agreement, GVR-member brokerages will be exempt from submitting residential transaction data for properties listed and sold within the region during BCFSA’s 2026 data call, though they must still report sold listings outside the GVR area and information related to the Home Buyer Rescission Period.

BC Northern Real Estate Board releases 2025 year end report

The Northern Real Estate Board of British Columbia reported a steady housing market in 2025, with moderate increases in home sales and prices compared to the previous year. Despite ongoing economic uncertainties, demand remains strong, particularly for single-family homes, while inventory levels have stabilized. REALTORS are advised to focus on market trends indicating a balanced environment, offering opportunities for both buyers and sellers in the region.

‘Pretty remarkable’: B.C. home sells for $800K above asking price

A unique Vancouver home featuring a distinctive architectural design and extensive renovations recently sold for $800,000 above its asking price, highlighting strong demand in the local real estate market for standout properties. The sale underscores buyers’ willingness to pay premiums for homes with exceptional character and quality upgrades, reflecting ongoing competitive conditions in British Columbia’s housing sector.

Canada's housing market ended 2025 with a whimper: CREA report

CREA says Canada’s housing market ended 2025 quietly, with 470,314 homes sold for the year—down 1.9% from 2024—after tariff-related uncertainty pushed buyers to the sidelines early on, followed by a mid-year rally and a soft finish. December sales totalled about 41,500 and were down 4.5% year-over-year, while the MLS Home Price Index fell 4% annually and the national average price was essentially flat at $673,335. Looking ahead, CREA expects pent-up demand—especially from first-time buyers in their 30s—to lift sales 5.1% in 2026 to 494,512, though affordability and the “missing middle” housing shortage remain challenges, and a renewed surge in first-time buying could tighten inventory quickly and reshape market conditions later in the year.

2,600 single-family lots in East Vancouver approved for six-storey apartments

Vancouver’s city council has approved the Rupert-Renfrew Station Area Plan, which aims to transform the neighborhood around the future SkyTrain station by allowing increased density and a mix of housing types, including townhouses and low-rise apartments, while preserving some single-family homes. The plan supports transit-oriented development to accommodate growth, improve affordability, and enhance community amenities, reflecting the city’s broader strategy to create more diverse and sustainable neighborhoods near rapid transit hubs.

Canadian Real Estate Prices Back To 2017 Levels After Inflation: BMO

According to a recent BMO report, when adjusted for inflation, Canadian real estate prices have effectively returned to levels last seen in 2017, despite nominal price increases over the years. This suggests that the rapid price growth experienced in recent years has been largely offset by inflation, impacting the true purchasing power of buyers. REALTORS and clients should consider inflation-adjusted values to better understand market trends and property affordability in the current economic context.

Report sees investors easing back into Canadian commercial real estate

A recent report indicates that investors are gradually returning to the Canadian commercial real estate market after a period of caution driven by economic uncertainty and rising interest rates. While activity remains below pre-pandemic levels, there is growing confidence fueled by strong demand in sectors like industrial and multi-family residential properties. Investors are increasingly focusing on assets with stable cash flows and long-term growth potential, signaling a cautious but optimistic outlook for the commercial real estate sector in Canada.

Remax confirms historic conversion of 17 Risi family Royal LePage offices

RE/MAX has completed a historic acquisition, converting 17 former Risi Family Royal LePage offices into its own locations across Ontario, marking one of the largest office transitions in Canadian real estate history. This strategic move significantly expands RE/MAX’s presence and market share in the region, providing enhanced resources and support for its agents and clients while preserving the legacy of the Risi Family’s longstanding contribution to the industry.

Real estate research firm Urbanation being acquired by software company Rentsync

Urbanation, a leading Canadian real estate research firm specializing in rental market data, is being acquired by RentSync, a U.S.-based software company that provides property management and leasing solutions. The acquisition aims to combine Urbanation’s comprehensive market analytics with RentSync’s technology platform to enhance data-driven decision-making for landlords, property managers, and investors across North America. This integration is expected to improve access to detailed rental market insights and streamline property management processes, benefiting REALTORS and their clients by providing more accurate and actionable information in the rental sector.

City of Vancouver staff outline regional hurdles to new housing on industrial lands

City of Vancouver planners are cautiously reassessing whether limited housing could be introduced on five “exceptional” protected industrial areas—Molson Brewery lands, Railtown, Marine Gateway, Mount Pleasant Industrial Area, and parts of False Creek Flats—without undermining long-term job space and economic goals. A memo to Mayor Ken Sim and Council outlines that any move toward mixed-use, higher-density development would be slow and tightly regulated under Metro Vancouver’s Metro 2050 plan, requiring extensive area planning, regional approvals, and mitigation of risks like flood hazards, freight rail impacts, and industrial conflicts. Staff warn that even speculation about residential conversion can inflate land values and displace businesses, so any changes would need strict limits, minimum employment-space requirements, and public benefits, while some sites near SkyTrain may proceed more quickly under the region’s “200-metre clause” that can allow housing above job space without full re-designation.

The Vancouver market is positioning for a gradual recovery through 2026, with CREA projecting B.C. sales to increase over 8%—among the strongest provincial rebounds nationally. However, Royal LePage's forecast of a 3.5% price decline in Greater Vancouver suggests this recovery will be volume-driven rather than price-driven, creating a window where transaction activity increases while average prices remain under pressure.

First-time buyers represent the primary opportunity segment as pent-up demand from millennials in their 30s begins to materialize alongside stabilizing interest rates. REALTORS should focus on educating this demographic about current market conditions, where inflation-adjusted prices have returned to 2017 levels according to BMO analysis. The presale market's 50%+ decline creates particular opportunity for agents who can guide buyers toward quality resale inventory as an alternative to stalled new construction.

Key risk factors demand close monitoring: tariff-related uncertainty continues to suppress buyer confidence, rising development cost charges threaten future supply pipelines, and inventory accumulation could accelerate if spring demand disappoints. The widening gap between new-build and resale pricing, combined with project cancellations, may create supply constraints 18-24 months forward that savvy investors should factor into acquisition strategies.

Actionable steps for Q1 include leveraging the new BCFSA-GVR data-sharing partnership to access real-time market intelligence, positioning listings competitively given Royal LePage's price decline forecast, and identifying motivated sellers among the mortgage renewal wave facing payment increases. The 3,000+ units approved in Vancouver's second half of 2025 won't deliver for years—agents who communicate this supply timeline effectively will capture buyers ready to act in today's softer market.

News Sources

• (Vancouver Is Awesome)  B.C. home sales and prices both down about 6% last month, amid Lower Mainland slump
• (Daily Hive Vancouver)  3,000 new homes approved by Vancouver City Council, including 15 towers
• (Daily Hive Vancouver)  Vancouver to see second-biggest drop in home prices among major cities this year
• (Daily Hive Vancouver)  Homebuilders urge Metro Vancouver to cancel fee hikes amid fragile market
• (CBC)  Fraser Valley Real Estate Board expects housing sales to speed up in 2026
• (Business in Vancouver)  A look at what people are saying about CREA's 2026 home sales forecast
• (GlobeNewswire)  CREA Updates Resale Housing Market Forecast for 2026 and 2027
• (CityNews Vancouver)  Metro Vancouver presale condo sales down ‘50% plus’ Realtor says, amid buyer uncertainty
• (BNN Bloomberg)  Trade war jitters send Canadian housing market into year-end slump, CREA reports
• (NanaimoNewsNOW)  Nanaimo Real Estate Market Report: December 2025
• (CBC)  Where Canada’s real estate market is headed in 2026
• (Storeys)  Pent-Up Demand Poised To Nudge Canadian Home Sales Higher In 2026: CREA
• (Daily Hive Vancouver)  5,800+ hotel rooms across 29 projects in Vancouver's development pipeline
• (Vancouver Sun)  The saga of two Beijing Opera workers who transferred almost $60 million into Metro Vancouver real estate
• (Vancouver Sun)  A dramatic B.C. court case reveals how one family moved huge sums of money from China to Metro Vancouver
• (Vancouver Sun)  A dramatic remake is being pitched for the former Vancouver Army & Navy site
• (Vancouver Sun)  Renewing a mortgage in 2026? Prepare for sticker shock, but no bubble
• (Daily Hive Vancouver)  Former Four Seasons Hotel Vancouver tower now being demolished
• (Richmond News)  Feds kick in funds to renovate Richmond affordable housing
• (SaskToday.ca)  Regina realtor fined $10K, suspended for tampering with Google Business profiles
• (reminetwork.com)  BCFSA and Greater Vancouver Realtors form data-sharing partnership
• (CFTK-TV)  BC Northern Real Estate Board releases 2025 year end report
• (CTV News)  ‘Pretty remarkable’: B.C. home sells for $800K above asking price
• (Financial Post)  Canada's housing market ended 2025 with a whimper: CREA report
• (Daily Hive Vancouver)  2,600 single-family lots in East Vancouver approved for six-storey apartments
• (Better Dwelling)  Canadian Real Estate Prices Back To 2017 Levels After Inflation: BMO
• (Wealth Professional Canada)  Report sees investors easing back into Canadian commercial real estate
• (Real Estate Magazine Canada)  Remax confirms historic conversion of 17 Risi family Royal LePage offices
• (Richmond News)  Real estate research firm Urbanation being acquired by software company Rentsync
• (Daily Hive Vancouver)  City of Vancouver staff outline regional hurdles to new housing on industrial lands

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The information and content provided in this article are for informational purposes only. While we strive to ensure the accuracy, completeness, and timeliness of the information presented, we make no warranties or representations about its reliability, suitability, or availability. The views and opinions expressed herein are those of the original authors and do not reflect our own. We are not responsible for any errors or omissions, or for any actions taken based on the information provided.

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