Housing Market Vancouver Sees Sharp Sales Drop in February 2026?

Vancouver's housing market entered 2026 with sales falling to levels not seen in decades. Residential transactions totaled 1,107 in January, down 28.7% from the same month in 2025. The decline positions January 2026 as the fourth slowest start to a year in over two decades. Sales dropped 30.9% below the 10-year seasonal average and signal a fundamental move in market dynamics rather than typical seasonal fluctuation.

The sales breakdown reveals widespread weakness across property types. Detached homes totaled 300 transactions. Apartments recorded 554 sales and attached homes saw 246 transactions. The composite standard price fell to $1,535,343.61. This marks a 5.7% year-over-year decline and a 1.2% drop from December. Total inventory climbed to 12,628 properties and sits 38% above the long-term average. The sales-to-active listings ratio dropped to 8.8% in January 2026, down from 12.2% in December 2025.

We remain optimistic about opportunities in the Vancouver real estate market despite these challenging conditions. As Vancouver realtors, we continue to close transactions and help buyers guide through this changing scene. Working with experienced professionals brings perspective and results during uncertain times.

February 2026 Sales Numbers Paint Concerning Picture

February brought additional pressure to the housing market Vancouver, with transactions falling to 1,104 units. This represents a 38% month-over-month decline and a 29% year-over-year drop, ranking among the weakest months in two decades. The measure HPI has declined for ten consecutive months and pulled Vancouver house prices back to late-2021 levels.

Regional data reveals varied effects in Vancouver real estate segments. Houses averaged $3,702,850 with 39 sales in Vancouver West, while condos saw 202 transactions at an average of $1,040,649. Vancouver East houses sold for an average of $1,889,334 across 37 transactions, down from $2,017,026 the previous year. East side condos recorded 107 sales at $955,822, compared to 150 sales at $1,050,060 in the prior year. Measure pricing declined about 1% since December and 7% year over year. Fraser Valley values dropped below $1,254,024.18 for the first time since 2021.

In spite of that, we continue closing transactions and securing strong results for our clients. Experienced Vancouver realtors help buyers identify value opportunities during market corrections. Our track record demonstrates that knowledgeable guidance produces results whatever the broader market conditions.

What's Driving Vancouver's Real Estate Slowdown?

Multiple economic forces joined to create the housing market Vancouver slowdown. Trade tensions between Canada and the United States emerged as a main factor and reduced consumer confidence and business investment. Then job growth slowed in trade-dependent sectors, which dampened housing demand across British Columbia's lumber industry. Economic uncertainty stemming from potential tariff impacts kept buyers on the sidelines throughout 2025 and into early 2026.

The Bank of Canada cut rates by one full percentage point during 2025, yet the effect of monetary policy on housing demand has weakened. With rates already accommodative, further cuts produced minimal market response. Beyond policy constraints, a fundamental price mismatch developed between seller expectations and what buyers were willing to pay. Sellers remained unwilling to accept price reductions, which caused properties to sit unsold for long periods.

Vancouver real estate lost a critical demand segment as speculators exited the market. This group created synthetic appreciation through investment activity previously, but rising costs and flat appreciation forecasts removed their incentive. The region faces its first population decline in modern history as federal immigration policies reduce international migration. Capital flight accelerated as wealthy individuals and corporations moved investments out of British Columbia. Operating costs in BC run two-thirds higher than California and make the province less competitive.

Despite these headwinds, we maintain an optimistic outlook. Our Vancouver realtor team continues securing transactions by helping buyers recognize value in current conditions. Working with experienced professionals provides clarity during uncertainty.

How Vancouver Realtors Are Adapting to Market Shifts

Real estate professionals throughout the region changed their approach as prolonged market weakness forced strategic changes. Oleg Galyuk from Royal Pacific Realty advised sellers against testing prices in current conditions. He warned they risk chasing the market down through repeated reductions. Flexibility extends beyond pricing to include closing dates and buyer accommodations. Roman Krzaczek reported price drops reaching $181,136.83 to $278,672.04, levels unprecedented in his decade-long career.

Marketing firms deployed creative tactics to stimulate transactions. KEY Marketing hosted a flash sale for a Surrey project and moved 63 homes at a 25% discount in one day. Developers offered rental guarantees providing 20% of purchase price over 24 months, plus buy-back guarantees at full original pricing to absorb buyer risk.

Technology adoption accelerated in the industry. Firms adopted AI-driven tools for audience segmentation and predictive analytics to identify potential buyers based on demographics and purchase stage. Customized email and SMS campaigns replaced broad marketing approaches. Some agents began refusing listings from sellers anchored to unrealistic valuations.

Use Team Eviston to sell your home. Despite systemic problems, our Vancouver realtor team continues closing transactions by helping buyers recognize genuine value. Working with experienced professionals provides results when others struggle.

We're Optimistic

Expert views point toward recovery despite recent weakness. BCREA Chief Economist Brendon Ogmundson expects sales will be up and closer to a 10-year average by year end, while Brian Yu forecasts a 5 to 10 per cent increase in home sales. MLS residential sales in BC are forecast to rise 12 per cent to 78,690 units this year. Average prices province-wide are projected to climb three per cent in 2026 to CAD 1,369,394.41.

Buyers entering the Vancouver housing market have favorable conditions. Borrowing costs fell nearly one full percentage point throughout 2025 and created improved purchasing power. Lower prices, reduced borrowing costs and abundant inventory give homebuyers advantages not seen in years as they start 2026. First-time buyers face minimal competition as investors exited the market and removed pressure to rush decisions. Surrey and Langley will see strong demand with the incoming SkyTrain extension.

Use Team Eviston to sell your home. We continue closing transactions and securing favorable outcomes for clients despite broader market challenges. Our Vancouver realtor team recognizes current conditions as strategic opportunities for buyers building wealth over time. Experienced professionals transform market uncertainty into applicable advantage.