Buyers and Sellers are adopting a wait-and-see approach to the housing market
VANCOUVER, BC – April 2, 2026 – Home sales registered on the MLS® in Metro Vancouver* continue to evolve at a pace similar to last year, with sales down roughly 3 percent from last March.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,032 in March 2026, a 2.8 percent decrease from the 2,091 sales recorded in March 2025. This was 31.8 per cent below the 10-year seasonal average (2,981).
“Year-to-date, sales are tracking our forecast for the year closely, and the weakness in demand we continue to observe at the aggregate level is unsurprising,” said Andrew Lis, GVR chief economist and vice-president data analytics. “What’s interesting is that the aggregate total masks an emerging divergence among market segments. While the multifamily segment continues to see slower sales, the detached segment may be awakening with sales up, and new listings down from last year.”
There were 5,792 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in March 2026. This represents a 10.3 per cent decrease compared to the 6,455 properties listed in March 2025. This was 4.9 per cent above the 10-year seasonal average (5,521).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for March 2026 is 14.2 per cent. By property type, the ratio is 11 per cent for detached homes, 17.2 per cent for attached, and 15.7 per cent for apartments. Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“We continue to see fewer sellers stepping into the market than last year, which is keeping inventory levels relatively flat. Pairing this dynamic with sales remaining below long-term averages, we’re not seeing prices move significantly in either direction,” Lis said. “And while the political uncertainty over tariffs may have diminished relative to what we saw in early 2025, the conflict in the middle east is now putting upward pressure on bond yields and fixed mortgage rates.
“As a result, it’s reasonable to expect there may be a dampening effect on demand as we head into the spring market, absent a swift resolution to the conflict.”
As we approach the Spring market, it is apparent that the global economic instability is putting a damper on the Real Estate market. We are seeing some prices flatlining as opposed to rapidly dropping like previous months, but not due to demand – It’s due to the reduction of supply. Number of deals in the market being done is still down.
We have noticed that people are starting to come out to Open Houses, doing showings, etc., reminiscent of what a Sprint market should be. However, we are also seeing a lack of forward momentum after those showings and open houses. If it were not for the energy crisis caused by the US/Iran war, we believe this Spring would have been a turning point.
The cost of oil is putting lots of pressure on bond yields, which in turn would affect the fixed mortgage rates. So expect that to rise in the next few months as it typically lags shortly behind the bond yields.
To buy a property these days, you need to be sure not to overspend. There are still lots of listings with overpriced expectations on the market, so do your homework before you make an offer. This is the market to take advantage of as a Buyer.
To sell a property, you’d need realistic expectations and be a bit more aggressive, understanding that it’s a Buyer’s market. Don’t lose your shirt on the sale, but be flexible.
Toughest situations right now, but also the most rewarding, are the MOVERS. Risk goes up exponentially if you have to do both transactions and line them up. In this market, you make your money on the BUY. Make sure you get a good deal, because chances are, when you’re selling, the ones who get a good deal will be the Buyers as well. The key in preparation is to know the “delta” – price difference you are comfortable with. Make sure that is within the lines at all times. Then you’d still have to make sure the dates are lined up well enough that you won’t need to move twice or pay 2 mortgages. There are a lot of moving parts in this, so you have to make sure all the preparation is done before you take the first step.
As we mentioned last year, It is less risky to sell first and buy after because selling is the tough part. But now, with inventory on the market reduced, the risk is that if you sell first, you may not find an ideal home to move into. So people are leaning towards buying first. To mitigate that risk, you have to make sure you buy at a favourable price point, because you will need to be aggressive when you sell. The “delta” is the only thing you can truly manage, so make sure that is always in your sights.
These are the majority of transactions in the current market. If you fall within this category and needs expert advice, please feel free to give us a call.
Wishing you an amazing Easter Weekend ahead!
If you’re thinking about making a move in the new year, or just have questions about what these trends mean for you, please reach out — we’re always happy to help.
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Detailed Real Estate Board Statistics Package