Still Falling 📉

It’s been a bit of a slower start to the Spring market than we usually expect. Sales across the Fraser Valley are down 15.9% year-over-year, and new listings have declined by 10.4%. That means overall activity in 2026 is trailing behind 2025—already one of the slowest years we’ve seen in the past 20 years. There are a lot of economic factors right now affecting buyer confidence, and I am not sure when we can expect that to change.

2026 Vs. 2025 Sales and New Listings, Fraser Valley Real Estate:

Health of the Market

I broke down active listings, sales, and Months of Inventory for each asset class in the Fraser Valley market. Months of Inventory is calculated by taking active listings and dividing them by the number of sales in one given month. This provides us with an absorption rate that indicates what type of market we are in. 1-3 MOI is a seller’s market, 4-6 is a balanced market, and 6+ MOI is a buyer’s market.

FVREB Year to Date  (2026)

2025 Year to Date 

All asset classes are currently in buyer’s market territory, with detached homes experiencing the strongest buyer’s market, followed by condos/apartments, and lastly townhomes. Townhomes continue to see the highest relative demand among the three segments.

From a boots-on-the-ground perspective, I’ve been seeing more resistance in the detached and entry-level condo markets, where pricing sensitivity is especially noticeable. It’s also becoming increasingly common to see “subject to sale” conditions included in offers, particularly on detached and townhome properties, reflecting the cautious approach many buyers are taking in today’s market.

Vancouver MOI

Turning attention away from the Valley and to Vancouver, Months of inventory in the city have also climbed this year, making sales even more of a challenge to achieve.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,370,900 the Benchmark price for an FVREB single-family detached
  home decreased 0.2 per cent compared to January 2026 and decreased 8.6 per cent compared to
  February 2025.
• Townhomes: At $770,700 the Benchmark price for an FVREB townhome decreased 0.3 per cent
  compared to January 2026 and decreased 7.1 per cent compared to February 2025.
• Apartments: At $488,300 the Benchmark price for an FVREB apartment/condo decreased 0.1 per
  cent compared to January 2026 and decreased 8.9 per cent compared to February 2025.

Affordability

For the first time on record, developers across Canada have started more rental units than owner-occupied homes over the past 12 months. In Vancouver and Toronto, especially, it is very hard for people to come up with a downpayment for a home. For example, in my marketplace of the Langley and Fraser Valley, BC, the average prices are as follows:

Detached: $1,370,900. Minimum down payment is: $112,090
Townhome: $770,700. Minimum down payment is: $52,070
Condo: $488,300. Minimum down payment is: $24,415

Mortgage rates unchanged for now

The BOC met on Wednesday, March 18th and held the key overnight lending rate. That is the third rate hold since they last dropped 0.25% in October, 2025. The overnight lending rate sits at 2.25%.

Canada’s bellwether 5-year bond yield rocketed up nearly 35bps in a straight line in March before pulling back a tad. So, most experts believe if you can get a decent fixed rate (4% or less), consider it, as it’s expected that fixed rates will go up over time. Variable rates remain around 4.25% and are directly affected by the overnight lending rate, which is not expected to fall any further in the near future.