Greater Vancouver: The Strongest Month of 2026 So Far
June home sales across Metro Vancouver increased 9.6% year-over-year, marking the first time in a while that detached homes, townhomes, and apartments all posted annual sales gains simultaneously.
While overall sales remain 12.4% below the 10-year seasonal average, the broader improvement in demand is an encouraging sign after an extended period of uneven market activity.
Although inventory remains approximately 30% above long-term averages, levels appear to be stabilizing, and may have begun a gradual downward trend, with both new listing and total listing levels coming in below those of June 2025.
Despite stronger demand, benchmark prices remained virtually unchanged from May, as existing inventory continues to absorb increased buyer activity.
Richmond Market Update: Momentum Continues to Build
In Richmond, total sales increased 7% year-over-year while total inventory declined for the first time since December.
Detached homes led the way, with sales rising 18.6% compared to last June. Condo sales also posted a solid 7.2% increase, while townhome sales eased slightly following an exceptionally strong May.
The sales-to-active listings ratios for detached and apartments improved, and stayed nearly stable for townhomes:
- Detached Homes: 10.7%
- Apartments: 14.4%
- Townhomes: 13.5%
Analysis of the historical data suggests downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Although detached homes remain just below balanced market conditions, this segment has strengthened considerably compared to where it sat throughout much of the past year.
Benchmark prices remain below last year's levels, however, month-over-month pricing has remained stable, a trend we've seen over the past several months.
What This Means Moving Forward
June's data marks the first month this year where several key indicators are moving in the same direction. Buyer demand has strengthened, inventory has begun to trend lower, and prices continue to hold steady.
While it's still too early to declare a market recovery, the fundamentals are improving. If demand continues to build through the summer and the pace of new listings remains measured, we could see inventory continue to tighten, creating increasingly balanced conditions for both buyers and sellers.
For now, the market remains well supplied and opportunities still exist for buyers. At the same time, improving sales activity is an encouraging sign for homeowners, suggesting the prolonged period of softer market conditions may gradually be giving way to a healthier and more balanced marketplace.
- Sean Lawson
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