While some buyers and sellers are currently adopting a "wait-and-see" approach to the Metro Vancouver housing market, the latest data for March 2026 reveals a fascinating shift—particularly if you’ve been keeping an eye on the detached home segment.

According to the most recent stats from the real estate board,  the aggregate market remains in a similar quieter pattern, with total sales reaching 2,032 in March, which is 31.8% below the 10-year seasonal average. However, looking at the total numbers alone doesn't tell the full story.

The Greater Vancouver REALTORS® (GVR) just released the February 2026 market statistics, and the overarching official theme is a continuation of slower-than-average sales. Residential sales in the region totalled 1,648 last month, which is a 9.8% decrease compared to February 2025 and 28.7% below the 10-year seasonal average. According to GVR, at the moment this pace is becoming the market’s “new norm”. Overall, the benchmark price for all residential properties currently sits at $1,100,300, representing a 6.8% decrease from this time last year. The stats also show that sellers are showing some hesitation to come to market right now, with new property listings down 6.4% compared to last February.

However, despite these cooler official statistics, the reality I am seeing on the ground is starting to feel quite different. Recently, there has been a noticeable increase in activity across various market segments. The most notable movement is happening in the detached home sector. Detached homes have undeniably been the most impacted segment over the past year, currently sitting at a buyer-friendly 9% sales-to-active listings ratio with a benchmark price of $1,835,900, down 8.8% from last year. Yet, after a period of quiet, buyers are finally beginning to step off the sidelines, and these properties are starting to move again.

As we head deeper into the spring, it remains to be seen if this recent burst of buyer interest is merely a seasonal uptick or the beginning of a genuine market shift. GVR notes that if demand continues to pick up while fewer sellers bring their properties to market, we could see a levelling off or decrease in current inventory that could support prices at current levels. The spring market will ultimately be the “litmus test” for the rest of the year.

The Bank of Canada maintained its overnight policy rate at 2.25% today, citing persistent headwinds from U.S. trade restrictions and general market uncertainty. With population growth cooling and businesses adapting to new trade realities, the Bank anticipates modest economic expansion of 1.1% in 2026 and 1.5% in 2027. Inflation is projected to remain near the 2% target over the next two years, as economic slack balances out trade-driven price pressures.

While strong data from late 2025 initially sparked talk of a 2026 rate hike, global factors—including a weaker U.S. dollar and fresh tariff threats from the Trump administration—make tightening highly unlikely this year. We expect the Bank to remain on hold throughout 2026.

The US Fed also held rates today in its announcement.

The BC Real Estate Association's economist Brendon Ogmundson his had this insight

“Despite some resilience against global uncertainty, both the economy and housing market struggled through 2025, However, with mortgage rates expected to remain steady and significant pent-up demand following over two years of below-average activity, we expect demand to steadily come off the sidelines to strengthen home sales this year.”

Happy New Year! As we step into 2026, the Metro Vancouver real estate market is presenting a unique landscape. 2025 was a year for the history books, seeing the lowest annual sales total in over two decades. Total sales finished the year down 10.4% from 2024, a shift that has created a significant increase in available inventory. There are currently 12,550 homes listed for sale—nearly 35% above the 10-year seasonal average—offering a wealth of selection we haven’t seen in years.