The latest data from Greater Vancouver REALTORS® points to a market that remains balanced overall, with the apartment segment experiencing the most weakness. Key points:
1. Sales remain sluggish
- Total May sales: 2,150
- Down 3.5% year-over-year
- Down 26.6% below the 10-year seasonal average
Demand remains muted despite lower borrowing costs compared to previous years.
2. Inventory remains elevated
- Active listings: 16,917
- Roughly unchanged from last year
- 34.6% above the 10-year average
Buyers continue to have plenty of choice, which is limiting price growth.
3. Apartments are the weakest segment
- Apartment sales fell 7.2% year-over-year
- Apartment benchmark price: $697,800
- Down 7.9% year-over-year
- Down 0.7% month-over-month
This continues to be the most buyer-friendly segment of the market.
4. Detached homes showing resilience
- Detached sales increased 0.9% year-over-year
- Benchmark price: $1,847,900
- Down 6.9% year-over-year
- Up 0.4% month-over-month
Detached homes appear to have stabilized after the price declines seen over the past year.
5. Townhomes remain relatively stable
- Sales down only 1.3%
- Benchmark price: $1,048,200
- Down 5.1% year-over-year
- Up 0.5% month-over-month
Townhomes continue to be the strongest-performing segment from a demand perspective.
What This Means for Sellers
- Detached homes: Well-priced properties can still generate strong interest, particularly in family-oriented neighbourhoods.
- Townhomes: Competitive but stable; presentation and pricing remain important.
- Condos: Buyers have significant leverage due to abundant inventory and slower sales activity. Strategic pricing is critical.
What This Means for Buyers
- More selection than we’ve seen in years.
- Less competition and fewer bidding wars.
- Increased negotiating power, especially in the condo market.
- Opportunities to secure price reductions and favourable terms.
Market Outlook for Summer 2026
The commentary from GVR suggests a “calm and orderly” summer market. With inventory plentiful and demand tracking forecasts, significant price swings appear unlikely in the near term. Expect:
- Stable pricing overall
- Continued buyer choice
- Detached and townhouse markets outperforming condos
- Local neighbourhood and property-specific factors becoming increasingly important
For Metro Vancouver as a whole, this remains a balanced market leaning slightly in favour of buyers, particularly in the apartment sector.
Download GVR’s May 2026 MLS® Residential Market Report.
As for the rest of the Province …
📉 BC Housing Market Update – Released June 11, 2026
The latest BCREA statistics show that BC’s housing market continues to face challenges as higher mortgage rates and a weaker economy weigh on buyer activity.
🏡 Key Highlights:
• 6,790 homes sold across BC in May, down 2% from May 2025
• Average home price: $945,878, down 1.4% year-over-year
• Sales activity remains 26% below the 10-year average for May
• Year-to-date sales are down 6.9% compared to 2025
BCREA Chief Economist Brendon Ogmundson notes that rising mortgage rates have created an unexpected headwind, particularly impacting activity in the Lower Mainland and potentially delaying a broader market recovery.
While buyers continue to benefit from increased choice and softer pricing in many markets, sellers need to be strategic with pricing and presentation to stand out.
For the complete statistics release, including detailed statistics, click here.
