Author: jonathanlu-ca

Looking ahead to 2027, the Canadian housing landscape is poised for gradual change. According to CMHC, as incomes and the broader economy strengthen, housing conditions should improve. While home sales are expected to recover, activity may still fall short of the busy pace we saw over the past decade. CREA’s outlook points to modest national price growth, signaling a stabilizing market rather than another period of sharp increases. For buyers, higher inventory and softer demand in certain regions could mean more room to negotiate. In my experience advising Vancouver families and international investors, these shifts offer both opportunities and important considerations for those planning their next move or long-term strategy. As always, understanding the nuances of our evolving market is essential for building resilient real estate portfolios.

BC’s standing inventory has reached 6,700 homes, including 5,500 condos—a figure that covers not just condos, but also townhomes and select multiplex units across the province. When we break it down, Burnaby currently leads the way with 1,210 unsold homes, followed by Vancouver at 1,020, Surrey at 798, and Coquitlam at 620. Richmond sits at 396 units, with Kelowna at 372, Langley Township at 276, New Westminster at 224, and Delta at 211. This spread clearly shows that unsold inventory is not limited to BC’s largest urban centres. Other notable counts: Langford at 188, Esquimalt at 173, City of North Vancouver at 135, Abbotsford at 118, and Chilliwack at 100—bringing the listed cities’ total to 5,840 homes. While some point to studios and one-bed units as the primary source, the province-wide data on size and average price tells a more nuanced story.

As someone who’s advised on a diverse range of property types and client needs in Greater Vancouver and beyond, I see how important it is to understand the true dynamics behind these numbers—especially for families, new immigrants, and investors planning their next move in BC’s evolving market.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

Mid-Q3 has brought a noticeable shift in the Metro Vancouver and Fraser Valley markets. We recorded 1,900 residential sales—a softer outcome for summer 2026, and another month tracking below this year’s earlier forecasts. The composite benchmark price settled at $1.08M, down month-over-month from early Q3, as buyer-friendly conditions continue to take shape across our region. Active inventory climbed to 15,800 properties, giving buyers more selection and supporting a competitive environment among sellers. Detached homes experienced the sharpest price adjustment (benchmark: $1.8M), while apartments reached $686K and attached homes $1.03M. With the sales-to-active listings ratio at roughly 12%, this is distinctly a buyers’ market—ample choice and more room for negotiation.

With over 16 years advising clients in Vancouver real estate, I’ve seen how these market dynamics create both challenges and strategic opportunities. Whether you’re a local family, a new immigrant, or building cross-border investments, understanding timing and negotiation will be key as we move through these buyer-favored conditions.

Looking ahead at Canada’s housing landscape, we’re seeing early signs of renewed momentum: resales have ticked up, inventory has levelled off, and prices are stabilizing—thanks largely to improved affordability and solid employment numbers that are encouraging buyers to revisit their real estate plans. Many clients who pressed pause on purchasing are now better positioned financially, with increased savings and stable jobs—setting the stage for a possible return to the market.

The latest forecasts suggest that 2026 may see a dip in resales by about 4% (to roughly 453,000) and a 2% decrease in benchmark prices (to around $794,000). But by 2027, modest gains are anticipated, with both resales and prices projected to rise across all provinces—even if the path to recovery isn’t uniform. Borrowing costs appear to be near their lows, and with the central bank expected to hold rates steady, the environment remains watchful of global trade and energy risks.

For families, new immigrants, and global investors navigating Vancouver’s dynamic market, understanding these nuances is key. My experience advising on over $300 million in transactions—especially for those building long-term assets in Vancouver or exploring cross-border opportunities—allows me to offer perspective as we move through this evolving cycle. The recovery may not be dramatic, but for those prepared, it’s an opportunity to plan for the next chapter.

As someone who’s spent over 16 years guiding families and investors through Vancouver’s real estate landscape, I’ve seen firsthand how development fees shape what gets built—and who can access new homes. A recent national housing agency study found that cutting these fees could make about 14% more residential projects viable across Canada. Cities like Toronto and Vancouver stand to benefit the most: removing charges could increase viable projects by roughly 10%, and in Toronto, that could address half the city’s stated supply gap.

It’s striking to compare development costs: in Calgary, fees range from approximately $4,000 for a one-bedroom high-rise to $9,000 for a detached home, while in Vancouver, similar units come with charges between $20,000 and $33,000. Of course, these fees help fund essential infrastructure—roads, sewers, city services—so the ideal solution isn’t zero. But for families hoping to secure a larger, new home in Vancouver, lower development fees could help make new builds more competitive with resale options, especially as affordability continues to challenge many buyers.

Understanding how policy decisions affect supply and choice is key—especially for those building long-term assets or navigating the market as newcomers. It’s another example of why a thoughtful, informed approach matters in Vancouver real estate.