Yesterday, Royal LePage® released its Q1 2026 House Price Survey. Below are highlights from the report for the Greater Vancouver, British Columbia, housing market.
The aggregate* home price decreased 4.5% to $1,174,500 year over year in the first quarter of 2026. On a quarterly basis, the aggregate price of a home in the region decreased modestly by 0.4%.
The median price of a single-family detached home decreased 5.7% year over year to $1,660,800.
The median price of a condominium decreased 4.8% to $729,000.
In the city of Vancouver, the aggregate price of a home decreased 3.9% year over year to $1,366,800 in Q1 2026.
The median price of a single-family detached home decreased 5.4% to $2,160,400, while the median price of a condominium declined 4.6% to $780,100.
Royal LePage is forecasting that the aggregate price of a home in Greater Vancouver will decrease 3.5% in the fourth quarter of 2026, compared to the same quarter last year.
Thursday, April 16th, 2026 – “The market has been on a gradual upswing in recent months as we approach the spring season. In March, transaction volume increased notably month over month, suggesting that consumers are beginning to re-engage. We’re also seeing the return of multiple offers and stronger foot traffic at open houses, and anecdotally, agents are reporting increased activity,” said Randy Ryalls, managing broker, Royal LePage Sterling Realty. “Buyers are engaged and responding to well-priced, well-presented inventory. We’re also continuing to see a higher number of ‘subject to sale’ offers, which indicates that both move-up and downsizing buyers are present in the market.”
Ryalls added that a significant share of active listings in Greater Vancouver have undergone price adjustments or expired, indicating that many sellers are still working to align their pricing with current market conditions.
“Signs are pointing to a stronger spring market in 2026, with rising buyer traffic, declining days on market, and renewed interest offering early momentum – though this likely won’t result in price increases for some time. The key challenge will be aligning buyer and seller expectations, which will be critical to unlocking more consistent activity in the months ahead,” said Ryalls. “At the same time, geopolitical and economic uncertainty will continue to play a role, with many consumers closely watching the headlines as they navigate their next move.”
Royal LePage is forecasting that the aggregate price of a home in Greater Vancouver will decrease 3.5 per cent in the fourth quarter of 2026, compared to the same quarter last year.
Nationally, the aggregate price of a home in Canada decreased 2.0 per cent year over year to $812,900 in the first quarter of 2026. On a quarter-over-quarter basis, however, the national aggregate home price remained relatively flat, increasing just 0.7 per cent.
“In a typical spring, Canada’s housing market would already be gaining momentum, but persistently low consumer confidence remains a drag on activity – especially in our most expensive markets,” said Phil Soper, president and CEO, Royal LePage. “That hesitation is being driven by uncertainty beyond our borders. The inflationary impact of America’s war with Iran is pushing energy prices higher, with ripple effects across the broader economy, while ongoing trade negotiations ahead of the CUSMA review are adding to concerns about economic stability and job security. For many Canadians, the headlines are hard to ignore.”
That sentiment can be seen in a Bank of Canada survey conducted in the fourth quarter of 2025, where Canadians were asked when they believe Canada–U.S. trade tensions had – or will have – the greatest impact on the economy and inflation. Half of respondents (50%) indicated that the most significant effects are still to come, while 27 per cent believe the worst has already passed.
“Three factors figure prominently in today’s sluggish market: hesitant first-time buyers, a return to sell-before-buy behaviour, and limited inventory in several key markets,” added Soper. “First-time buyers are the engine of the housing market, and when they pause, it ripples through every segment. Move-up buyers are also taking a more measured approach, often choosing to sell before committing to their next purchase; a behaviour we haven’t seen in years. In some regions, however, the issue isn’t demand – it’s supply.
“What’s clear is that many Canadians still intend to move. Our sales professionals, working with buyers and sellers every day, are approaching the spring and summer markets with cautious optimism.”
According to the central bank, nearly one third (29%) of Canadians said they were likely to move within the next 12 months, up from 22 per cent from a year earlier. Similarly, 20 per cent of homeowners said they were likely to sell their home within the next year, up from 14 per cent.[3]
The Royal LePage National House Price Composite is compiled from proprietary property data nationally and regionally in 65 of the nation’s largest real estate markets. When broken out by housing type, the national median price of a single-family detached home decreased 1.3 per cent year over year to $857,300, while the median price of a condominium decreased 3.4 per cent to $577,600. On a quarter-over-quarter basis, the median price of a single-family detached home and a condominium increased modestly by 1.0 per cent and 0.4 per cent, respectively. Price data, which includes both resale and new build, is provided by RPS Real Property Solutions, a leading Canadian real estate valuation company.
“Despite ongoing uncertainty, the underlying fundamentals of Canada’s housing market remain sound. For buyers, the environment has improved meaningfully. Competition has eased, interest rates have stabilized, and in many parts of the country prices have levelled off – with declines in our most expensive markets, Toronto and Vancouver, as the price gap with more affordable cities continues to narrow,” added Soper.
“National trends may dominate the headlines, but regional realities are what define market conditions on the ground.”
In the first quarter, the aggregate price of a home decreased 4.7 per in the Greater Toronto Area and 4.5 per cent in Greater Vancouver.
“Because of their size, softness in British Columbia and southern Ontario has an outsized impact on national averages,” said Soper. “Meanwhile, strong demand in a much more affordable Quebec market has allowed the province’s major cities to lead in both activity and price growth. On the Prairies, sales have slowed somewhat, yet home values continue to rise modestly, reflecting ongoing supply constraints. Atlantic Canada’s economy has been bolstered by a surge in Newfoundland’s energy sector and a recovery in Nova Scotia’s exports. While sales volumes have moderated, low inventory and a continued stream of interprovincial migrants seeking affordability have fueled continued, modest home price appreciation.”
Royal LePage is forecasting that the aggregate price of a home in Canada will increase 1.0 per cent in the fourth quarter of 2026, compared to the same quarter last year.
*Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build.