VANCOUVER, BC – April 2, 2026 – Home sales registered on the MLS® in Metro Vancouver* continue evolving at a pace similar to last year, with the sales down roughly three per cent from last March.

The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 2,032 in March 2026, a 2.8 per cent 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).

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,774, a 1.6 per cent increase compared to March 2025 (14,546). This is 38 per cent above the 10-year seasonal average (10,704).

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.

Despite recent headlines suggesting rent prices are easing, the reality for many Vancouver residents tells a different story. A large portion of renters still find themselves spending far beyond what’s considered affordable.

The 30% Rule Is Being Broken

Traditionally, housing is considered affordable if it costs no more than 30% of your income.

But in Vancouver:

• Many renters exceed this threshold significantly

• Some are allocating 50% or more of their income to rent

This creates financial strain and limits savings potential.

Why Rent Still Feels So Expensive

Even with slight rent declines:

• Wages haven’t kept pace

• Cost of living remains high

• High demand persists in desirable neighborhoods

Additionally, Vancouver continues to rank among the most expensive rental markets in Canada.

Supply Is Rising—So Why Isn’t It Helping More?

There has been an increase in housing supply, which has contributed to:

• Stabilizing rent prices

• Slight year-over-year declines

However:

• Demand is still strong

• New units are often priced at premium levels

• Older “affordable” units are limited

What This Means for Buyers and Sellers

This rental pressure creates ripple effects:

• Renters may rush into homeownership sooner

• Investors see continued rental demand

• Sellers may benefit from increased buyer urgency

The Vancouver rental market is shifting—but not enough to relieve pressure for most residents.

Affordability remains the core issue, and until incomes and supply align more realistically, this challenge will persist.

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