Vancouver’s affordability has finally shown some signs of easing, a shift that’s meaningful for buyers—but the relief is only partial. Despite recent price declines undoing more than half of the dramatic affordability jump we saw during the pandemic, home ownership here remains a major challenge. In BC, softer labour conditions have kept wage growth limited, so even as prices fall, many buyers aren’t seeing the full boost in affordability they were hoping for. This tension is clear in the market: resales are down, prices are softer across nearly all housing types, and inventory is abundant, giving buyers more options than in previous years. As a realtor guiding clients through Greater Vancouver, I’ve seen how these factors play out on the ground. In the near term, with demand expected to stay subdued and inventory remaining high, we may see continued downward pressure on prices—offering a bit more breathing room for those looking to enter the market. Strategic pricing and a deep knowledge of local trends remain essential in this evolving landscape.
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