Greater Vancouver home sales rose 9.3% in June, with inventory slightly down but still near two-decade highs. The typical home price slipped 0.2% to about $1.1 million, down 6% from last year and 12.3% from the 2022 peak. Sales-to-new-listings ratio hit 40%, indicating a balanced market, but high active listings continue to exert downward pressure on prices, suggesting the market may face challenges ahead.
Condo presales have fallen dramatically in major cities, reducing developer confidence and making it harder to launch new housing projects.
Many builders are postponing developments because current sales volumes no longer support construction financing requirements.
Experts warn today's project cancellations could create ownership housing shortages several years from now.
Rental construction remains strong, but fewer condominium completions may limit future opportunities for first-time homebuyers.
The buyers in the Vancouver market today are no longer the foreign buyers. It's the affluent techies and local people that have made money and want to establish themselves here for quality of life. Take a look at this example that we sold for 3.m mil last month. It's in West Point Gray and the main reason for it is a huge backyard and great schools nearby.
The Civic Long Weekend is that magical time when emails mysteriously stop being urgent and everyone suddenly becomes an outdoor enthusiast with barbecue ambitions.
It’s the official season of “quick getaway” plans that somehow involve more traffic than the entire workweek combined, plus snacks bought in emergency bulk.
Parks, beaches, and backyards transform into competitive zones for grilling skills, loud laughter, and pretending Monday does not exist yet.
Happy Civic Long Weekend! May your plans be easy, your food be grilled just right, and your return to reality feel slightly less painful than expected.
Canada's next building permits update is expected to show a MoM ↓~2% in Late-Q2, extending the prior period's slightly smaller ↓~2% move.
That expected pullback points to slower construction activity in Canada and gives investors an early signal on housing-market momentum before the official data release.
If the decline comes in smaller than expected, it may show Canada's housing sector has held up better under pressure, supporting confidence in construction-related industries.
If the estimated ↓~2% is confirmed, investors may read it as softer confidence and a cooler housing market, with broader effects on jobs and investment.
For Canada, permit trends can shape views on Real Estate, construction, consumer spending, and how the central bank may weigh future economic forecasts.
In Late-Q2, Vancouver, BC recorded ~2.4K home sales, ↑near 10% yearly, with stronger demand across all home types than a year earlier.
Even with stronger activity, sales remained ~12% below Vancouver's 10-yr seasonal avg., showing buyers were more active while overall pace stayed historically moderate.
The composite benchmark for Vancouver residential properties was ~$1.1M in Late-Q2, ↓~6% yearly and essentially flat from Mid-Q2, signaling stable recent pricing.
New listings reached ~5.9K in Late-Q2, ↓~6% yearly but ~6% above Vancouver's 10-yr avg., giving buyers a broader selection to consider now.
Total inventory was ~17K homes in Late-Q2, ↓~3% yearly yet ~30% above Vancouver's long-term avg., while an economist saw early shift potential.
Two B.C. cities ranked among Canada's best places to live: Victoria (6th) and Vancouver (8th). Vancouver is praised for its natural beauty, diversity, outdoor activities, and transport but is very expensive, with an average home price of $1.2 million and monthly rent around $2,385. Victoria is noted for its mix of city life, natural beauty, tech and tourism jobs, and popular beaches, though housing costs remain high.
Vancouver Pride Parade & Festival takes place on 2026-08-02 in Vancouver, BC, with the parade route running from Pacific Boulevard & Griffiths Way west to Davie Village and the Davie Village festival on Davie Street between Burrard and Jervis. Part of Vancouver Pride Festival 2026, it is a large LGBTQ+ community celebration featuring a major Pride parade, a street festival/block party, and additional Pride-week programming. The event is free to attend and spectate, and more information is available through the Vancouver Pride Society website.
