Greater Vancouver: The New Normal Continues
February’s market data suggests Metro Vancouver’s housing market continues to settle into a slower pace. Sales remain below long-term averages, while inventory levels remain elevated compared to historical norms, creating conditions that continue to favour buyers.
Interestingly, February’s market data brought a decline in new inventory hitting the market when compared to last February, suggesting some sellers may currently be less eager to list their homes than they were a year ago. A slowdown in new listings could help stabilize prices if buyer activity begins to improve as we approach the spring market.
February saw higher sales volume than predicted by the GVR, which offers a glimmer of hope for Sellers this year. The Spring Market will provide an important indication of how housing activity may unfold through the remainder of 2026.
Richmond Market Update: A Buyers Market Heading into Spring
Richmond continues to reflect the broader regional trend of slower sales activity and elevated inventory levels, conditions that continue to place downward pressure on prices.
Across all detached, attached, and apartment property types in Richmond, the sales-to-active listings ratio for February 2026 sits at 8.1%. By property type, the ratio is 5.2% for detached homes, 9.1% for attached homes, and 9.6% for apartments.
Historically, sustained periods below a 12% absorption rate tend to place downward pressure on home prices, while ratios above 20% for several months typically generate upward price momentum. The detached segment continues to face the most pressure, with the sales-to-active listings ratio remaining below 12% for the 14th consecutive month. In fact, the current ratio represents the lowest level seen since 2019.
With many forecasts pointing to another slower year for the housing market, the upcoming spring season will provide an important indication of short-term direction. While interest rates are expected to hold for now, attention will shift toward whether buyer demand begins to strengthen during the spring season that typically brings activity to the market.
If confidence begins to improve and buyers re-enter the market in greater numbers, we could see some stabilization in inventory levels and pricing as the year progresses.
- Sean Lawson
Leave a 5-star review!
If you’ve enjoyed working with me and want to share your experience, I’d greatly appreciate a quick 5-star review. Reviews help others find trusted guidance when navigating the real estate market, an increasingly important factor in challenging times. As a small thank you for taking the time, I’ll send along a gift card once I’ve read your posted review! No further action required on your end; simply leave your review, and I’ll be in touch.
Historically, sustained periods below a 12% absorption rate tend to place downward pressure on home prices, while ratios above 20% for several months typically generate upward price momentum. The detached segment continues to face the most pressure, with the sales-to-active listings ratio remaining below 12% for the 14th consecutive month. In fact, the current ratio represents the lowest level seen since 2019.
What This Means Moving Forward
With many forecasts pointing to another slower year for the housing market, the upcoming spring season will provide an important indication of short-term direction. While interest rates are expected to hold for now, attention will shift toward whether buyer demand begins to strengthen during the spring season that typically brings activity to the market.
If confidence begins to improve and buyers re-enter the market in greater numbers, we could see some stabilization in inventory levels and pricing as the year progresses.
- Sean Lawson
Leave a 5-star review!
If you’ve enjoyed working with me and want to share your experience, I’d greatly appreciate a quick 5-star review. Reviews help others find trusted guidance when navigating the real estate market, an increasingly important factor in challenging times. As a small thank you for taking the time, I’ll send along a gift card once I’ve read your posted review! No further action required on your end; simply leave your review, and I’ll be in touch.
