As someone who’s worked in the Greater Vancouver market for over a decade, I’ve seen our real estate cycles firsthand—and right now, Canada’s housing market is showing signs of a steady, measured recovery. Since early Q2, we’re seeing improvements in resales and a more balanced inventory, with prices either holding steady or easing at a slower pace. According to the latest bank projections, 2026 could bring a modest dip in home resales by about 4% (to 453,200 units) and a slight decrease in benchmark prices by around 2% (to $794,200). Looking ahead to 2027, forecasts suggest resales may climb nearly 7% to 483,600, and benchmark prices could edge up just under 1% to $800,700. This points to a recovery, but not the kind of surge many might hope for. Interestingly, pent-up demand remains a strong factor, with estimates that over 400,000 Canadian households have postponed buying since 2019. Still, much depends on affordability, stable economic growth, and the return of buyer confidence—especially amid ongoing rate and trade uncertainties. In my experience, these steadying trends offer opportunities for careful buyers and sellers who understand the nuances of today’s market.
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