Metro Vancouver home prices expected to continue sliding in 2026

The new year is just around the corner, but it may be some time before Metro Vancouver’s home prices and housing market see a resurgence.

According to a new report from Royal LePage, all home types across Vancouver are expected to see a drop in prices in the fourth quarter of 2026.

Single-family detached homes are set to see the largest decline, dropping five per cent to a median price of $1.6 million.

The media price of condos is forecast to see a dip of three percent to just under $712,000.

Towards the end of 2026, he aggregate price of a Greater Vancouver home is forecast to decrease 3.5 per cent year over year to $1,147,868. 

Randy Ryalls, managing broker of Royal LePage Sterling Realty, said that the forecasted price drop reflects how the momentum in Vancouver’s housing market continues to dwindle.

“Sales remain well below the region’s ten-year average, and growing inventory levels are sitting longer as buyers hold back,” said Ryalls in a statement. “This year’s slower-than-usual fall market suggests that softer conditions may persist for some time.”

Ryalls explained that two groups stand out when trying to identify why buyers are hesitant to purchase a home.

“Those concerned about the broader economy, and those trying to time the market for a better deal,” who has 35 years of working as a realtor. “With plenty of inventory available and prices edging downward, there is little urgency for buyers to move quickly.

“In this environment, many feel comfortable waiting, watching and weighing their options before making a decision.”

Vancouver is one of just two major Canadian markets, along with Toronto, set to see a drop in the aggregate price of a home in the fourth quarter of 2026.

Nationally, Canada is set to see the aggregate home price rise by one per cent to $823,016. Single-family detached home prices are expected to rise by two per cent to $876,934, though condominiums will actually see a decrease of 2.5 per cent, down to $563,918.

Greater Vancouver Realtors’ recently released November 2025 market performance report also indicates that homebuyers are staying on the sidelines while listings pile up.

According to the association, the number of residential sales reached 1,846 units last month — a 15.4 per cent decline from November 2024 and more than 20 per cent below the 10-year seasonal average.

Ryalls added that the region has had a noticeable rise in “subject to sale” transactions, as move-up buyers try to sell their current home in order to proceed with their next purchase.

“Looking ahead, another rate cut or two could give the market the lift it needs, although that seems unlikely now,” said Ryalls. “A drop in inventory levels might also help motivate buyers as we enter the new year.

“As we saw during the COVID years, some buyers respond strongly to a fear of missing out, and even a modest shift in market conditions could be enough to bring them off the sidelines. A small nudge could help drive more activity in 2026.”

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With files from Kendall Collins and Kenneth Chan