VANCOUVER, BC – August 4, 2026 –Home sales registered on the MLS® in Metro Vancouver* fell nearly ten per cent relative to July last year, erasing the ten percent gain seen in June that kicked off the summer.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,061 in July 2026, a 9.8 per cent decrease from the 2,286 sales recorded in July 2025. This was 18.6 per cent below the 10-year seasonal average (2,532).

“Last month, we reported broad gains in home sales across all home types, raising the question of whether demand would continue to build into the summer. Instead, July sales were down nearly ten per cent, led by an 18 per cent drop in apartment sales, confirming to market watchers that the June momentum was not sustained,” said Andrew Lis, GVR chief economist and vice president data analytics.

“Over the past few years, the sales activity story has often been one step forward, one step back, and the June and July data are a prime example of this pattern.” There were 4,991 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2026.

This represents a 11.5 per cent decrease compared to the 5,642 properties listed in July 2025. This figure matches the 10 year seasonal average (4,992). The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 16,476, a 4 per cent decrease compared to July 2025 (17,168). This is 26.8 per cent above the 10-year seasonal average (12,992).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for July 2026 is 13 per cent. By property type, the ratio is 10.5 per cent for detached homes, 15.8 per cent for attached, and 14 per cent for apartments.

If you own an older home in Metro Vancouver, there's one hidden issue that can catch homeowners off guard when it's time to sell—a buried oil tank.

Many homes built before natural gas became the primary heating source relied on underground oil tanks to store heating fuel. While countless homeowners have since converted to newer systems, not every tank was removed.

In some cases, these tanks remain buried beneath the property, unnoticed for decades.

What Is a Buried Oil Tank?

Before natural gas became widely available, heating oil was the standard for many Vancouver homes. Fuel was stored in large steel tanks buried underground, typically in the front or back yard.

When homeowners switched heating systems, some tanks were professionally removed, while others were abandoned in place.

As a result, many homeowners may not even realize an old tank still exists on their property.

Why Does It Matter?

A buried oil tank isn't necessarily a problem simply because it's there.

However, older steel tanks can corrode over time, increasing the risk of leaks that may contaminate the surrounding soil. If contamination is discovered, cleanup costs can be significant and may delay or complicate the sale of a home.

Buyers, lenders, and insurance providers often ask whether a property has—or previously had—a buried oil tank, making it an important consideration during the selling process.

How Can You Find Out?

If your home was built several decades ago, it's worth investigating your property's history.

You may want to:

✔ Review previous property records

✔ Ask whether the home originally used oil heat

✔ Check for documentation showing the tank was removed

✔ Arrange a professional oil tank scan if you're unsure

Taking these steps before listing your home can help identify potential issues early and provide valuable peace of mind.

Planning Ahead Can Save Time and Money

One of the biggest advantages of discovering a buried oil tank before your home goes on the market is having time to evaluate your options.

By addressing questions early, you can avoid last-minute surprises during negotiations, build buyer confidence, and help keep your transaction moving forward smoothly.

Preparation is often one of the most valuable investments a homeowner can make before selling.

The Bottom Line

Buried oil tanks are easy to forget—but they can become an important part of a real estate transaction.

Understanding your home's history and addressing potential concerns before listing can make the selling process far less stressful and help protect the value of your investment.

If you're thinking about selling an older Vancouver home and aren't sure whether a buried oil tank could be an issue, we'd be happy to discuss your property's history and help you determine the next steps.

Thinking About Selling?

Every home has a story—and understanding yours before it goes on the market can make all the difference.

Whether you own a character home, an investment property, or a long-time family residence, we're here to help you navigate the process with confidence.

Contact Andrew Hasman & Associates for expert advice and a personalized home selling strategy.

Community Spotlight: Honda Celebration of Light

Summer in Vancouver isn't complete without the Honda Celebration of Light!

On July 31, English Bay will once again light up with one of the world's largest offshore fireworks competitions. It's a spectacular evening featuring live entertainment, food vendors, and an incredible waterfront atmosphere enjoyed by locals and visitors alike.

If you're planning to attend:

• 🎆 Arrive early to secure a viewing spot.

• 🚆 Consider taking public transit, as parking is extremely limited.

• 🧺 Bring a blanket or lawn chair and enjoy an unforgettable summer evening with family and friends.

It's one of Vancouver's signature summer events—and a great reminder of why so many people love calling this city home.

VANCOUVER, BC – July 3, 2026 – Demand for all home types in Metro Vancouver* increased to start the summer, with home sales up nearly ten per cent year-over-year in June.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,390 in June 2026, a 9.6 per cent increase from the 2,181 sales recorded in June 2025. This was 12.4 per cent below the 10-year seasonal average (2,728).

“June saw a pattern of broad gains in home sales across all home types relative to the same time last year, which has been a rare occurrence in recent years,” said Andrew Lis, GVR chief economist and vice-president data analytics. “June’s data could be an early sign of a shift in the market. In recent years, sales trends have usually been mixed across home types, which is typical of a sideways trending market. But with all housing types posting gains in June, the data indicate demand may be returning to the market more broadly.”

There were 5,938 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2026. This represents a six per cent decrease compared to the 6,315 properties listed in June 2025. This was 5.9 per cent above the 10-year seasonal average (5,609).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 17,017, a 3.1 per cent decrease compared to June 2025 (17,561). This is 30.2 per cent above the 10-year seasonal average (13,070).

Across all detached, attached and apartment property types, the sales-to-active listings ratio for June 2026 is 14.6 per cent. By property type, the ratio is 12 per cent for detached homes, 17.8 per cent for attached, and 15.5 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

If your home was built between the late 1970s and the mid-1990s, there's a chance it contains Poly-B plumbing. While many homes with Poly-B continue to function without issues, it's one of the first things buyers, home inspectors, and insurance companies often look for during a real estate transaction.

Understanding what Poly-B is and how it may affect your home can help you make informed decisions, whether you're buying, selling, or simply planning for the future.

What Is Poly-B Plumbing?

Poly-B, short for polybutylene piping, is a flexible plastic plumbing material that was widely used in residential construction because it was affordable and easy to install.

Thousands of homes throughout Metro Vancouver and other parts of Canada were built with Poly-B plumbing during this period.

Why Is It a Concern?

Over time, Poly-B piping has been found to be more susceptible to deterioration than other plumbing materials. Factors such as water quality, pressure, and age can contribute to the pipes becoming brittle or developing leaks.

Not every home with Poly-B will experience problems, but because the material has a history of failures, many buyers and insurance providers pay close attention when it is present.

What Does This Mean for Homeowners?

If your home has Poly-B plumbing, it doesn't necessarily mean you need to replace it immediately.

However, it's a good idea to:

• Know whether your home has Poly-B piping.

• Have the plumbing inspected if you notice leaks or signs of wear.

• Understand how it may affect your insurance coverage.

• Be prepared to answer buyer questions if you're planning to sell.

For some homeowners, replacing the plumbing before listing can provide peace of mind and improve buyer confidence. For others, the existing system may continue to perform well for years. The best approach depends on the home's condition and your long-term plans.

The Bottom Line

Poly-B plumbing is one of several items that buyers often ask about during the home-buying process, but it shouldn't automatically discourage you from purchasing or selling a home.

The most important step is understanding the condition of the plumbing and seeking advice from qualified professionals when needed.

Every home is different, and having the right information allows you to make confident decisions.

If your home was built between the mid-1960s and late-1970s, there's a chance it contains aluminum electrical wiring.

That doesn't automatically mean there's a problem, but it is something buyers, sellers, and homeowners should understand.

Why Was Aluminum Wiring Used?

During the 1960s and early 1970s, copper prices increased significantly. Builders began using aluminum wiring as a more affordable alternative in many residential homes.

Thousands of homes throughout Metro Vancouver were built during this period.

Is Aluminum Wiring Dangerous?

Not necessarily.

When properly installed and maintained, aluminum wiring can continue to perform safely. However, over time, aluminum expands and contracts more than copper. This movement can loosen electrical connections, potentially creating overheating issues if not properly addressed.

Because of this, insurance companies, home inspectors, and buyers often pay close attention when aluminum wiring is present.

Buying or Selling a Home With Aluminum Wiring

If you're buying a home, a professional home inspection can help determine the condition of the electrical system and whether any upgrades or safety improvements have been completed.

If you're selling, understanding your home's wiring before listing can help you answer buyer questions and avoid surprises during negotiations.

In some cases, simple improvements or documentation from a qualified electrician can provide buyers with additional confidence.

The Bottom Line

Aluminum wiring doesn't automatically reduce a home's value or make it unsafe.

Like many aspects of real estate, the condition of the home, proper maintenance, and expert guidance matter far more than assumptions.

Whether you're buying, selling, or simply planning ahead, understanding your home's electrical system helps you make more informed decisions.

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