A Year for the Record Books \u2014 and a Turning Point Ahead<\/strong><\/h2>\n\u00a0![\"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 \u2014 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\u00a0\u00a0\u2022\u2022\u2022<\/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\u00ae (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\u201cThis year was one for the history books,\u201d<\/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\u2019t driven by mass job losses or a financial crisis \u2014 factors that typically explain major market pullbacks.<\/p>\n
\u201cIn other times when home sales have slowed, there\u2019s usually been some fairly obvious economic reason,\u201d<\/em> Lis explained. \u201cThis time around, the factors were less obvious. A lot of it appears to have been psychological.\u201d<\/em><\/p>\n![\"Hesitant](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/pexels-rdne-8293771.jpg\" "\\"Hesitant")
<\/p>\n
Listings: Sellers Showed Up \u2014 In Force<\/strong><\/h3>\nWhile buyers hesitated, sellers did the opposite<\/strong>.<\/p>\nIn 2025, 65,335 properties were listed on MLS\u00ae<\/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
\u201cWhile sales weren\u2019t as high as expected, there was no shortage of sellers coming to market. It was a very active sell side.\u201d<\/em><\/p>\nThat imbalance defined the year: more choice than buyers had seen in years \u2014 but fewer buyers willing to act<\/strong>.<\/p>\n\u2022\u2022\u2022<\/h3>\nInventory: Elevated \u2014 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 \u2014 but gradually.<\/p>\n
The MLS\u00ae 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
\u201cOver the past few months, prices have been steadier \u2014 moving more sideways than sharply up or down. If that continues, it may signal a bottom to some buyers.\u201d<\/em><\/p>\n\u00a0![\"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\u2019 favour: borrowing costs<\/strong>.<\/p>\nOver the course of 2025, interest rates fell by nearly a full percentage point<\/strong>, quietly improving affordability \u2014 even as buyer confidence lagged behind.<\/p>\nLis emphasized the setup heading into 2026:<\/p>\n
\u201cWith lower prices, lower borrowing costs, and plenty of inventory, homebuyers are starting the year with favourable conditions.\u201d<\/em><\/p>\nWhether buyers act on those conditions remains the open question.<\/p>\n
\u2022\u2022\u2022<\/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 \u2014 particularly in markets like Metro Vancouver that saw rapid price growth over the past decade.<\/p>\n
\u201cIt seems that in markets with the fastest price growth over the last 10 years, we\u2019re seeing the slowest sales now,\u201d<\/em> Lis observed.<\/p>\nAt the same time, speculative demand \u2014 once a significant driver in higher-priced markets \u2014 was largely absent.<\/p>\n
As one local agent told Postmedia, today\u2019s buyers are asking a different question than they did in past cycles:<\/p>\n
\u201cEverybody\u2019s apprehensive. They\u2019re asking, \u2018What kind of return can I expect?\u2019 And the truth is \u2014 nobody has a crystal ball.\u201d<\/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 \u2014 including Lis \u2014 do not expect today\u2019s conditions to persist indefinitely.<\/p>\n
Life events don\u2019t pause forever. Jobs change. Families grow. People downsize, upsize, and relocate.<\/p>\n
\u201cAt a certain point, I do expect that pressure from the buy side to release,\u201d<\/em> Lis said. \u201cA lot of people who delayed decisions in 2025 will eventually choose to make them.\u201d<\/em><\/p>\nLis estimates sales in 2026 could rebound toward 26,000\u201328,000 transactions<\/strong>, with 30,000 representing a strong year<\/strong> \u2014 still below historical highs, but a meaningful recovery from 2025\u2019s trough.<\/p>\n![\"Maple](\"https:\/\/rodrhearyan.com\/blog\/wp-content\/uploads\/2026\/04\/poco_drone_a.jpeg\" "\\"Maple")
<\/p>\n
2025 in Review \u2014 Key Takeaways<\/strong><\/h3>\n\n- A Historic Slowdown, Not a Breakdown<\/strong>
\n2025 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>
\nSellers 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>
\nHome 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>
\nLower borrowing costs, softer pricing, and abundant inventory created favorable conditions \u2014 yet uncertainty and psychological hesitation kept many buyers on the sidelines.<\/li>\n- Sellers Were Forced to Adapt<\/strong>
\nWith 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>
\nBy year\u2019s 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>
\nThe market isn\u2019t asking if<\/em> activity returns \u2014 but when<\/em>, and how quickly confidence catches up to improving fundamentals.<\/li>\n<\/ol>\n\u00a0\u00a0Our 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\u2019re the steady hand you can trust.<\/strong>
\nWhether you’re planning ahead or ready to make a move, let’s talk strategy\u2014we\u2019re 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 \u2013 Your Neighbourhood Experts<\/em><\/span><\/strong><\/p>\n\u00a0 Call\/Text <\/strong><\/em>Ryan:<\/span><\/strong><\/span><\/strong>\u00a0<\/span><\/span>604-561-2127<\/span><\/span><\/p>\n\u00a0Follow 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 \u2014 and a Turning Point Ahead \u00a0 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":2,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions"}],"predecessor-version":[{"id":3801,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions\/3801"}],"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 \u2014 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\u00ae (GVR), 23,800 residential properties sold in 2025<\/strong>, representing:<\/p>\n GVR Chief Economist Andrew Lis<\/strong> described the year plainly:<\/p>\n \u201cThis year was one for the history books,\u201d<\/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\u2019t driven by mass job losses or a financial crisis \u2014 factors that typically explain major market pullbacks.<\/p>\n \u201cIn other times when home sales have slowed, there\u2019s usually been some fairly obvious economic reason,\u201d<\/em> Lis explained. \u201cThis time around, the factors were less obvious. A lot of it appears to have been psychological.\u201d<\/em><\/p>\n While buyers hesitated, sellers did the opposite<\/strong>.<\/p>\n In 2025, 65,335 properties were listed on MLS\u00ae<\/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 \u201cWhile sales weren\u2019t as high as expected, there was no shortage of sellers coming to market. It was a very active sell side.\u201d<\/em><\/p>\n That imbalance defined the year: more choice than buyers had seen in years \u2014 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 \u2014 but gradually.<\/p>\n The MLS\u00ae 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 \u201cOver the past few months, prices have been steadier \u2014 moving more sideways than sharply up or down. If that continues, it may signal a bottom to some buyers.\u201d<\/em><\/p>\n \u00a0 While sales and prices softened, one key factor moved in buyers\u2019 favour: borrowing costs<\/strong>.<\/p>\n Over the course of 2025, interest rates fell by nearly a full percentage point<\/strong>, quietly improving affordability \u2014 even as buyer confidence lagged behind.<\/p>\n Lis emphasized the setup heading into 2026:<\/p>\n \u201cWith lower prices, lower borrowing costs, and plenty of inventory, homebuyers are starting the year with favourable conditions.\u201d<\/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 \u2014 particularly in markets like Metro Vancouver that saw rapid price growth over the past decade.<\/p>\n \u201cIt seems that in markets with the fastest price growth over the last 10 years, we\u2019re seeing the slowest sales now,\u201d<\/em> Lis observed.<\/p>\n At the same time, speculative demand \u2014 once a significant driver in higher-priced markets \u2014 was largely absent.<\/p>\n As one local agent told Postmedia, today\u2019s buyers are asking a different question than they did in past cycles:<\/p>\n \u201cEverybody\u2019s apprehensive. They\u2019re asking, \u2018What kind of return can I expect?\u2019 And the truth is \u2014 nobody has a crystal ball.\u201d<\/em><\/p>\n Despite the slowdown, most economists \u2014 including Lis \u2014 do not expect today\u2019s conditions to persist indefinitely.<\/p>\n Life events don\u2019t pause forever. Jobs change. Families grow. People downsize, upsize, and relocate.<\/p>\n \u201cAt a certain point, I do expect that pressure from the buy side to release,\u201d<\/em> Lis said. \u201cA lot of people who delayed decisions in 2025 will eventually choose to make them.\u201d<\/em><\/p>\n Lis estimates sales in 2026 could rebound toward 26,000\u201328,000 transactions<\/strong>, with 30,000 representing a strong year<\/strong> \u2014 still below historical highs, but a meaningful recovery from 2025\u2019s trough.<\/p>\n \u00a0\u00a0Our Google reviews will give you all the confidence you need!<\/a><\/p>\n R3 Hayes Real Estate Group \u2013 Your Neighbourhood Experts<\/em><\/span><\/strong><\/p>\n \u00a0 Call\/Text <\/strong><\/em>Ryan:<\/span><\/strong><\/span><\/strong>\u00a0<\/span><\/span>604-561-2127<\/span><\/span><\/p>\n \u00a0Follow 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 \u2014 and a Turning Point Ahead \u00a0 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":2,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions"}],"predecessor-version":[{"id":3801,"href":"https:\/\/www.rodrhearyan.com\/blog\/wp-json\/wp\/v2\/posts\/193\/revisions\/3801"}],"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}]}}\u00a0\u00a0\u2022\u2022\u2022<\/h3>\n
Sales: A 20-Year Low<\/strong><\/h3>\n
\n
<\/p>\nListings: Sellers Showed Up \u2014 In Force<\/strong><\/h3>\n
\n
\u2022\u2022\u2022<\/h3>\n
Inventory: Elevated \u2014 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
\u2022\u2022\u2022<\/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 \u2014 Key Takeaways<\/strong><\/h3>\n
\n
\n2025 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
\nSellers 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
\nHome 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
\nLower borrowing costs, softer pricing, and abundant inventory created favorable conditions \u2014 yet uncertainty and psychological hesitation kept many buyers on the sidelines.<\/li>\n
\nWith 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
\nBy year\u2019s end, leverage had changed hands, conditions quietly improved, and delayed life decisions continued to build pressure beneath the surface.<\/li>\n
\nThe market isn\u2019t asking if<\/em> activity returns \u2014 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\u2019re the steady hand you can trust.<\/strong>
\nWhether you’re planning ahead or ready to make a move, let’s talk strategy\u2014we\u2019re here to help you come out ahead.<\/strong><\/h3>\n<\/p>\nYour Neighbourhood Experts<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"