A Year for the Record Books — and a Turning Point Ahead<\/strong><\/h2>\n ![\"Greater](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-souvenirpixels-414462.jpg\" "\\"Greater")
<\/strong><\/p>\n2025 will be remembered as one of the most unusual and challenging years the Greater Vancouver real estate market has experienced in decades. Not because of a sudden crash or economic crisis — but because of a prolonged slowdown shaped by uncertainty, psychology, and a historic imbalance between supply and demand.<\/p>\n
By nearly every major metric, 2025 rewrote the record books.<\/strong><\/p>\n •••<\/h3>\nSales: A 20-Year Low<\/strong><\/h3>\nHome sales across Metro Vancouver fell to their lowest annual total in more than two decades<\/strong>. According to the Greater Vancouver REALTORS® (GVR), 23,800 residential properties sold in 2025<\/strong>, representing:<\/p>\n\n- A 10.4% decline<\/strong> from 2024<\/li>\n
- A 9.3% drop<\/strong> from 2023<\/li>\n
- Nearly 25% below the 10-year annual sales average<\/strong><\/li>\n<\/ol>\n
GVR Chief Economist Andrew Lis<\/strong> described the year plainly:<\/p>\n“This year was one for the history books,”<\/em> Lis said, pointing to the rare combination of historically low sales alongside record-setting listing activity.<\/p>\nWhat makes 2025 particularly notable is that this slowdown wasn’t driven by mass job losses or a financial crisis — factors that typically explain major market pullbacks.<\/p>\n
“In other times when home sales have slowed, there’s usually been some fairly obvious economic reason,”<\/em> Lis explained. “This time around, the factors were less obvious. A lot of it appears to have been psychological.”<\/em><\/p>\n![\"Hesitant](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-rdne-8293771.jpg\" "\\"Hesitant")
<\/p>\n
Listings: Sellers Showed Up — In Force<\/strong><\/h3>\nWhile buyers hesitated, sellers did the opposite<\/strong>.<\/p>\nIn 2025, 65,335 properties were listed on MLS®<\/strong>, making it the highest annual listing total since the mid-1990s<\/strong>, surpassing even the peak of 2008. That figure represents:<\/p>\n\n- An 8.2% increase<\/strong> over 2024<\/li>\n
- A 28.4% increase<\/strong> over 2023<\/li>\n
- 13% above<\/strong> the 10-year annual average<\/li>\n<\/ol>\n
Lis summed up the contradiction succinctly:<\/p>\n
“While sales weren’t as high as expected, there was no shortage of sellers coming to market. It was a very active sell side.”<\/em><\/p>\nThat imbalance defined the year: more choice than buyers had seen in years — but fewer buyers willing to act<\/strong>.<\/p>\n•••<\/h3>\nInventory: Elevated — and Still Growing<\/strong><\/h3>\nBy year-end, Metro Vancouver entered 2026 with 12,550 active listings<\/strong>, which is:<\/p>\n\n- 14.6% higher<\/strong> than December 2024<\/li>\n
- Nearly 35% above the 10-year seasonal average<\/strong><\/li>\n<\/ol>\n
This level of inventory fundamentally shifted market dynamics. Buyers gained leverage. Sellers faced longer timelines, more competition, and increased pressure to price strategically.<\/p>\n
![\"Record](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-freestockpro-9822733.jpg\" "\\"Record")
<\/em><\/p>\nPrices: A Controlled Pullback, Not a Collapse<\/strong><\/h3>\nWith sales down and inventory elevated, prices eased — but gradually.<\/p>\n
The MLS® Home Price Index benchmark for all residential properties ended the year at $1,114,800<\/strong>, reflecting:<\/p>\n\n- A 4.5% decline year-over-year<\/strong><\/li>\n
- A modest 0.8% dip month-over-month<\/strong> heading into December<\/li>\n<\/ol>\n
Importantly, price movements in the second half of 2025 became more stable<\/strong>, shifting sideways rather than continuing to slide.<\/p>\nLis noted this nuance:<\/p>\n
“Over the past few months, prices have been steadier — moving more sideways than sharply up or down. If that continues, it may signal a bottom to some buyers.”<\/em><\/p>\n ![\"Lower](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-yaroslav-y-1225711088-24245347_b.jpg\" "\\"Lower")
<\/em><\/p>\nBorrowing Costs: Quietly Improving Conditions<\/strong><\/h3>\nWhile sales and prices softened, one key factor moved in buyers’ favour: borrowing costs<\/strong>.<\/p>\nOver the course of 2025, interest rates fell by nearly a full percentage point<\/strong>, quietly improving affordability — even as buyer confidence lagged behind.<\/p>\nLis emphasized the setup heading into 2026:<\/p>\n
“With lower prices, lower borrowing costs, and plenty of inventory, homebuyers are starting the year with favourable conditions.”<\/em><\/p>\nWhether buyers act on those conditions remains the open question.<\/p>\n
•••<\/h3>\nThe Missing Buyer: Psychology Over Economics<\/strong><\/h3>\nOne of the defining themes of 2025 was buyer hesitation rooted in uncertainty<\/strong>, not financial distress.<\/p>\nTrade tensions with the United States, lingering affordability concerns, and fear of further price declines kept many buyers on the sidelines — particularly in markets like Metro Vancouver that saw rapid price growth over the past decade.<\/p>\n
“It seems that in markets with the fastest price growth over the last 10 years, we’re seeing the slowest sales now,”<\/em> Lis observed.<\/p>\nAt the same time, speculative demand — once a significant driver in higher-priced markets — was largely absent.<\/p>\n
As one local agent told Postmedia, today’s buyers are asking a different question than they did in past cycles:<\/p>\n
“Everybody’s apprehensive. They’re asking, ‘What kind of return can I expect?’ And the truth is — nobody has a crystal ball.”<\/em><\/p>\n![\"Will](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-asphotography-101808.jpg\" "\\"Will")
<\/em><\/p>\nLooking Ahead to 2026: Pressure Building Beneath the Surface<\/strong><\/h3>\nDespite the slowdown, most economists — including Lis — do not expect today’s conditions to persist indefinitely.<\/p>\n
Life events don’t pause forever. Jobs change. Families grow. People downsize, upsize, and relocate.<\/p>\n
“At a certain point, I do expect that pressure from the buy side to release,”<\/em> Lis said. “A lot of people who delayed decisions in 2025 will eventually choose to make them.”<\/em><\/p>\nLis estimates sales in 2026 could rebound toward 26,000–28,000 transactions<\/strong>, with 30,000 representing a strong year<\/strong> — still below historical highs, but a meaningful recovery from 2025’s trough.<\/p>\n![\"Maple](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_drone_a.jpeg\" "\\"Maple")
<\/p>\n
2025 in Review — Key Takeaways<\/strong><\/h3>\n\n- A Historic Slowdown, Not a Breakdown<\/strong>
2025 marked the lowest annual sales total in over two decades, but the market did not collapse. Instead, it paused. Activity slowed while fundamentals reset, creating a market defined more by hesitation than distress.<\/li>\n- Inventory Surged, Power Shifted<\/strong>
Sellers brought record levels of supply to market, pushing inventory well above historical norms. With more choice than buyers have seen in years, leverage shifted decisively toward the buy side.<\/li>\n- Prices Adjusted, Not Cratered<\/strong>
Home prices eased across all property types as competition increased, but declines remained measured. The market re-priced to meet reality rather than spiraling downward.<\/li>\n- Confidence Lagged Behind Opportunity<\/strong>
Lower borrowing costs, softer pricing, and abundant inventory created favorable conditions — yet uncertainty and psychological hesitation kept many buyers on the sidelines.<\/li>\n- Sellers Were Forced to Adapt<\/strong>
With demand selective and competition fierce, pricing and presentation mattered more than ever. Homes that adjusted expectations and stood out continued to sell; others waited.<\/li>\n- The Foundation for 2026 Is Set<\/strong>
By year’s end, leverage had changed hands, conditions quietly improved, and delayed life decisions continued to build pressure beneath the surface.<\/li>\n- The Big Question Moving Forward<\/strong>
The market isn’t asking if<\/em> activity returns — but when<\/em>, and how quickly confidence catches up to improving fundamentals.<\/li>\n<\/ol>\n Our Google reviews will give you all the confidence you need!<\/a><\/p>\nTOP 5 reasons to work with R3 Hayes Real Estate Group<\/strong><\/a><\/h3>\n![\"R3](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/banner.png\" "\\"R3")
<\/p>\n
In a market full of noise and hesitation, we’re the steady hand you can trust.<\/strong>
Whether you’re planning ahead or ready to make a move, let’s talk strategy—we’re here to help you come out ahead.<\/strong><\/h3>\n![\"r3](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/r3_logo.png\")
<\/p>\n
R3 Hayes Real Estate Group – Your Neighbourhood Experts<\/em><\/span><\/strong><\/p>\n Call\/Text <\/strong><\/em>Ryan:<\/span><\/strong><\/span><\/strong> <\/span><\/span>604-561-2127<\/span><\/span><\/p>\n Follow us on social media for more market updates!<\/a><\/span><\/strong><\/p>\nYour Neighbourhood Experts<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":" 2025 Greater Vancouver Real Estate Market Review A Year for the Record Books — and a Turning Point Ahead 2025 will be remembered as …<\/p>\n","protected":false},"author":2,"featured_media":2072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=193"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions"}],"predecessor-version":[{"id":2692,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions\/2692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2072"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/strong><\/p>\n2025 will be remembered as one of the most unusual and challenging years the Greater Vancouver real estate market has experienced in decades. Not because of a sudden crash or economic crisis — but because of a prolonged slowdown shaped by uncertainty, psychology, and a historic imbalance between supply and demand.<\/p>\n
By nearly every major metric, 2025 rewrote the record books.<\/strong><\/p>\n Home sales across Metro Vancouver fell to their lowest annual total in more than two decades<\/strong>. According to the Greater Vancouver REALTORS® (GVR), 23,800 residential properties sold in 2025<\/strong>, representing:<\/p>\n GVR Chief Economist Andrew Lis<\/strong> described the year plainly:<\/p>\n “This year was one for the history books,”<\/em> Lis said, pointing to the rare combination of historically low sales alongside record-setting listing activity.<\/p>\n What makes 2025 particularly notable is that this slowdown wasn’t driven by mass job losses or a financial crisis — factors that typically explain major market pullbacks.<\/p>\n “In other times when home sales have slowed, there’s usually been some fairly obvious economic reason,”<\/em> Lis explained. “This time around, the factors were less obvious. A lot of it appears to have been psychological.”<\/em><\/p>\n While buyers hesitated, sellers did the opposite<\/strong>.<\/p>\n In 2025, 65,335 properties were listed on MLS®<\/strong>, making it the highest annual listing total since the mid-1990s<\/strong>, surpassing even the peak of 2008. That figure represents:<\/p>\n Lis summed up the contradiction succinctly:<\/p>\n “While sales weren’t as high as expected, there was no shortage of sellers coming to market. It was a very active sell side.”<\/em><\/p>\n That imbalance defined the year: more choice than buyers had seen in years — but fewer buyers willing to act<\/strong>.<\/p>\n By year-end, Metro Vancouver entered 2026 with 12,550 active listings<\/strong>, which is:<\/p>\n This level of inventory fundamentally shifted market dynamics. Buyers gained leverage. Sellers faced longer timelines, more competition, and increased pressure to price strategically.<\/p>\n With sales down and inventory elevated, prices eased — but gradually.<\/p>\n The MLS® Home Price Index benchmark for all residential properties ended the year at $1,114,800<\/strong>, reflecting:<\/p>\n Importantly, price movements in the second half of 2025 became more stable<\/strong>, shifting sideways rather than continuing to slide.<\/p>\n Lis noted this nuance:<\/p>\n “Over the past few months, prices have been steadier — moving more sideways than sharply up or down. If that continues, it may signal a bottom to some buyers.”<\/em><\/p>\n While sales and prices softened, one key factor moved in buyers’ favour: borrowing costs<\/strong>.<\/p>\n Over the course of 2025, interest rates fell by nearly a full percentage point<\/strong>, quietly improving affordability — even as buyer confidence lagged behind.<\/p>\n Lis emphasized the setup heading into 2026:<\/p>\n “With lower prices, lower borrowing costs, and plenty of inventory, homebuyers are starting the year with favourable conditions.”<\/em><\/p>\n Whether buyers act on those conditions remains the open question.<\/p>\n One of the defining themes of 2025 was buyer hesitation rooted in uncertainty<\/strong>, not financial distress.<\/p>\n Trade tensions with the United States, lingering affordability concerns, and fear of further price declines kept many buyers on the sidelines — particularly in markets like Metro Vancouver that saw rapid price growth over the past decade.<\/p>\n “It seems that in markets with the fastest price growth over the last 10 years, we’re seeing the slowest sales now,”<\/em> Lis observed.<\/p>\n At the same time, speculative demand — once a significant driver in higher-priced markets — was largely absent.<\/p>\n As one local agent told Postmedia, today’s buyers are asking a different question than they did in past cycles:<\/p>\n “Everybody’s apprehensive. They’re asking, ‘What kind of return can I expect?’ And the truth is — nobody has a crystal ball.”<\/em><\/p>\n Despite the slowdown, most economists — including Lis — do not expect today’s conditions to persist indefinitely.<\/p>\n Life events don’t pause forever. Jobs change. Families grow. People downsize, upsize, and relocate.<\/p>\n “At a certain point, I do expect that pressure from the buy side to release,”<\/em> Lis said. “A lot of people who delayed decisions in 2025 will eventually choose to make them.”<\/em><\/p>\n Lis estimates sales in 2026 could rebound toward 26,000–28,000 transactions<\/strong>, with 30,000 representing a strong year<\/strong> — still below historical highs, but a meaningful recovery from 2025’s trough.<\/p>\n Our Google reviews will give you all the confidence you need!<\/a><\/p>\n R3 Hayes Real Estate Group – Your Neighbourhood Experts<\/em><\/span><\/strong><\/p>\n Call\/Text <\/strong><\/em>Ryan:<\/span><\/strong><\/span><\/strong> <\/span><\/span>604-561-2127<\/span><\/span><\/p>\n Follow us on social media for more market updates!<\/a><\/span><\/strong><\/p>\n 2025 Greater Vancouver Real Estate Market Review A Year for the Record Books — and a Turning Point Ahead 2025 will be remembered as …<\/p>\n","protected":false},"author":2,"featured_media":2072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/comments?post=193"}],"version-history":[{"count":1,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions"}],"predecessor-version":[{"id":2692,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions\/2692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media\/2072"}],"wp:attachment":[{"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/media?parent=193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/categories?post=193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/tags?post=193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} •••<\/h3>\n
Sales: A 20-Year Low<\/strong><\/h3>\n
\n
<\/p>\nListings: Sellers Showed Up — In Force<\/strong><\/h3>\n
\n
•••<\/h3>\n
Inventory: Elevated — and Still Growing<\/strong><\/h3>\n
\n
<\/em><\/p>\nPrices: A Controlled Pullback, Not a Collapse<\/strong><\/h3>\n
\n
<\/em><\/p>\nBorrowing Costs: Quietly Improving Conditions<\/strong><\/h3>\n
•••<\/h3>\n
The Missing Buyer: Psychology Over Economics<\/strong><\/h3>\n
<\/em><\/p>\nLooking Ahead to 2026: Pressure Building Beneath the Surface<\/strong><\/h3>\n
<\/p>\n2025 in Review — Key Takeaways<\/strong><\/h3>\n
\n
2025 marked the lowest annual sales total in over two decades, but the market did not collapse. Instead, it paused. Activity slowed while fundamentals reset, creating a market defined more by hesitation than distress.<\/li>\n
Sellers brought record levels of supply to market, pushing inventory well above historical norms. With more choice than buyers have seen in years, leverage shifted decisively toward the buy side.<\/li>\n
Home prices eased across all property types as competition increased, but declines remained measured. The market re-priced to meet reality rather than spiraling downward.<\/li>\n
Lower borrowing costs, softer pricing, and abundant inventory created favorable conditions — yet uncertainty and psychological hesitation kept many buyers on the sidelines.<\/li>\n
With demand selective and competition fierce, pricing and presentation mattered more than ever. Homes that adjusted expectations and stood out continued to sell; others waited.<\/li>\n
By year’s end, leverage had changed hands, conditions quietly improved, and delayed life decisions continued to build pressure beneath the surface.<\/li>\n
The market isn’t asking if<\/em> activity returns — but when<\/em>, and how quickly confidence catches up to improving fundamentals.<\/li>\n<\/ol>\nTOP 5 reasons to work with R3 Hayes Real Estate Group<\/strong><\/a><\/h3>\n
<\/p>\nIn a market full of noise and hesitation, we’re the steady hand you can trust.<\/strong>
Whether you’re planning ahead or ready to make a move, let’s talk strategy—we’re here to help you come out ahead.<\/strong><\/h3>\n<\/p>\nYour Neighbourhood Experts<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"