Canadian home prices continue showing resilience despite slower economic growth and cautious buyer sentiment.
Limited housing supply remains supporting prices across several metropolitan markets.
Population growth continues contributing to long-term housing demand.
Analysts expect modest national price growth through the remainder of 2026.

As someone who’s worked with buyers and sellers across the Fraser Valley and Greater Vancouver for over 15 years, I’ve seen firsthand how shifts in mortgage rates can impact home-buying decisions. Lately, we’re seeing lower rates breathe new life into affordability, prompting more Canadians to revisit plans they might have put on hold. Even with a bit of a slowdown in national population growth this year, household formation remains strong—a positive sign for anyone considering a move. There’s also a noticeable uptick in first-time buyers stepping into the market, which is helping to keep the broader resale landscape active. Looking ahead, market confidence is expected to build gradually right through to late 2026. Whether you’re thinking of buying your first home or planning your next move, these trends are worth watching.

Looking ahead to 2026, it appears we may see Canada’s average home prices slowly rise—a sign that the market is gradually regaining its footing after a stretch of ups and downs. Lower interest rates on the horizon, steady population growth, and ongoing housing shortages in many urban areas are all factors helping to support these price increases. While affordability is still top of mind for many Canadians, especially in places like Greater Vancouver and the Fraser Valley where I work, the resilience of the market stands out. We’re expecting to see stronger price gains in major cities, with smaller communities remaining more stable. For anyone considering buying or selling, it’s more important than ever to pay close attention to market shifts and think long-term. The overall outlook is one of cautious optimism—Canada’s housing market is on the path to recovery, moving forward at a steady, measured pace.

Across BC, standing inventory totaled 6.7K homes, including 5.5K condos, and the count covered condos, townhomes, plus some multiplex units provincewide.
Among tracked BC cities, Burnaby led with 1.21K unsold homes, followed by Vancouver at 1.02K, Surrey at 798, and Coquitlam at 620.
Richmond recorded 396 units, Kelowna 372, Langley Township 276, New Westminster 224, and Delta 211, showing inventory spread well beyond BC's largest markets.
Additional BC counts included Langford 188, Esquimalt 173, the City of North Vancouver 135, Abbotsford 118, and Chilliwack 100; listed cities totaled 5.84K.
A common presale narrative blamed mainly studios and one-beds, but broader BC size and avg. price data pointed to a different story.

As someone who’s spent over 15 years helping buyers and sellers navigate the Fraser Valley and Greater Vancouver markets, I’ve seen how shifts in confidence and affordability shape our real estate landscape. This year, we saw early signs of recovery: resales picking up, inventory leveling out, and prices finding their footing as employment and savings trends gave more buyers the green light to re-enter the market. Still, a lot depends on how quickly those who’ve been waiting on the sidelines decide to make a move.

Looking ahead, forecasts call for a slight dip in resales (down about 4% to 453,000) and benchmark prices (down around 2% to $794,000) in 2026—but the expectation is that both will start to climb again in 2027 across every province, even if the recovery is more gradual than dramatic. With borrowing costs hovering near recent lows and the central bank holding rates steady, there’s reason for cautious optimism—though we’ll need to keep an eye on global trade and energy factors.

Whether you’re just starting your home search, considering an investment, or planning your next move, understanding these market trends is key to making confident decisions.

The Bank of Canada has chosen to keep its key interest rate steady at 2.25%, pointing to ongoing economic recovery and concerns about inflation. With Canada’s GDP rising by 3.3% in the second quarter and unemployment dipping to 6.4% in July, there are clear signs of momentum in the market. For those navigating decisions in the Fraser Valley or Greater Vancouver real estate landscape, these economic indicators can influence everything from mortgage rates to market confidence. The Bank will revisit its stance on October 28, 2026, so it’s worth keeping an eye on how shifts in inflation and economic conditions may impact your next move. With over 15 years of experience working with buyers and sellers, I’m always tracking these trends to help you make informed choices, whether you’re buying, selling, or investing.