Residential Real Estate News
Metro Vancouver Home Sales Slip 4.6% in August
Greater Vancouver recorded 1,869 residential sales in August, about 21% below the 10-year seasonal average. The all-residential benchmark price fell to $1,081,900, down 5.6% from a year ago and 0.6% from July, while 15,798 active listings sit roughly 26% above the long-term average.
- 1,869Sales
- $1,081,900Benchmark price
- -5.6%vs Aug 2025
Detached, Condo and Townhome Benchmarks All Lower Year Over Year
In August the benchmark price was $1,799,400 for detached homes (down 7.2%), $686,200 for apartments (down 6.6%) and $1,028,800 for townhouses (down 4.4%). Apartment sales fell 6.8% from a year earlier, while attached sales edged up 0.7%.
- $1.80MDetached
- $686,200Apartment
- $1.03MTownhouse
Realtors Expect the Cooling Trend to Run Through Year-End
The board's chief economist says lower inventory paired with sluggish demand is pulling prices down across all segments. The cooling that began in May is expected to continue through the end of 2026, and the board recently trimmed its 2026 forecast modestly.
- MayCooling began
- Dec 2026Expected through
Fraser Valley Stays a Buyer’s Market With Prices Down 7%
The Fraser Valley board recorded 941 sales in August, up 1% from a year earlier but 13.6% below July. The composite benchmark was $869,900 (down 7% year over year), with detached at $1,319,600, townhomes at $750,600 and condos at $466,100. Active listings of 9,787 are 33% above the 10-year seasonal average.
- 941Sales
- $869,900Composite
- 10%Sales-to-active
Bank of Canada Holds at 2.25%; Next Decision October 28
The Bank of Canada kept its policy rate at 2.25% on September 2, pointing to modest second-quarter GDP growth of 1.1%, core inflation near 2.3% and unemployment of 6.4%. The next rate announcement is scheduled for October 28.
- 2.25%Policy rate
- Oct 28Next decision
Governments to Buy Up to 2,200 Unsold Condos for Rent-to-Own
B.C. and Ottawa plan to acquire up to 2,200 unsold condos from developers and convert them into no-down-payment rent-to-own homes. The premier said units would be bought below construction cost, with a focus on markets outside Vancouver such as the Fraser Valley, Vancouver Island and the Okanagan.
- 2,200Unsold condos
- No down paymentRent-to-own
No New Concrete Highrise Launches in Q1 2026
Metro Vancouver saw zero concrete highrise launches in the first quarter, compared with 152 a year earlier, while townhome launches fell to 334 from 507, according to Zonda Home Canada data. Developers are struggling to hit the presale targets needed for construction financing, and 3,945 completed condos were unsold at quarter-end.
- 0Highrise launches
- 334Townhome launches
- 3,945Unsold completed condos
CMHC Sees Vancouver Housing Starts Falling Toward 2028
CMHC projects Vancouver-area starts will ease from 27,185 in 2025 to between 20,500 and 22,000 by 2028, with condo construction reaching historically low levels. It expects an average home price near $1.16 million in 2026 and the rental vacancy rate tightening from 3.7% to 3.4% by 2028.
- 27,185Starts in 2025
- 20.5-22KStarts by 2028
- ~$1.16M2026 avg price
Vancouver Average Asking Rent Is Down 3.4% From a Year Ago
Vancouver's average asking rent was $2,704 in the latest report, up 1% from the prior month but down 3.4% year over year. One-bedrooms averaged $2,350 (down about 6% from a year ago) and two-bedrooms $3,248 (down 4.4%).
- $2,704Avg asking rent
- $2,3501-bedroom
- $3,2482-bedroom
North Vancouver Rent Is Canada's Highest at $3,036
Daily Hive reports North Vancouver's average asking rent at $3,036, the most expensive in Canada, while New Westminster averaged $2,203.
- $3,036North Vancouver
- $2,203New Westminster
White Rock Home Values Hold Steady Year Over Year
HonestDoor's August report puts the average White Rock house value estimate at about $1.94 million (up 0.75% year over year) and condos at about $843,000 (down 0.77%), with 10 house and 51 condo sales recorded in 2026.
- $1,939,194House estimate
- $843,215Condo estimate
Surrey Beats Its Housing Target Six Months Early
Surrey issued 13,844 net new housing units over 2.5 years, passing its 13,000-unit target ahead of schedule. In the July 2025 to June 2026 provincial reporting period it issued 5,307 net new units, 14.4% above its 4,639-unit goal, supported by $100.7 million from the Housing Accelerator Fund.
- 13,844Net new units
- 5,307vs 4,639 goal
- $100.7MAccelerator Fund
Vancouver Housing Starts Trend Up 6% on Multi-Unit Builds
CMHC says the six-month trend in Vancouver housing starts rose 6% in August, driven by higher multi-unit starts. Nationally, starts held near 229,000 units at a seasonally adjusted annual rate.
- +6%Vancouver 6-month trend
- 229,046Canada annual pace
Fraser Valley Prices Sit 26% Below the 2022 Peak
In June the Fraser Valley composite benchmark was $884,800, down 7.1% year over year and about 26% below its 2022 peak, on 1,147 sales. Benchmarks were $1,350,200 for detached homes, $764,100 for townhomes and $476,400 for condos.
- $884,800Composite
- -26%vs 2022 peak
- 1,147June sales
Summaries are paraphrased from the linked sources and are for general information only, not advice. Figures reflect each report's stated period.
Thinking of buying or selling a home in Metro Vancouver, the Fraser Valley or White Rock/South Surrey? Get in touch with Nader.