GVR Housing Market Report | January 2026
The Greater Vancouver Realtors® (GVR) have released their first housing market report for 2026, and the message is clear: the new year has started much like the last one ended—slow sales, elevated inventory, and continued price softness.
Here’s a clean, blog-ready summary in the same tone and structure as your example, tailored to the January 2026 GVR report:
The Greater Vancouver REALTORS® (GVR) have released their January 2026 housing market report, and the message is clear: the new year has started much like the last one ended—slow sales, elevated inventory, and continued price softness.
TL;DR: Metro Vancouver Housing Market – January 2026
January marked one of the quietest starts to a year in more than two decades. Sales remained deeply below historical norms, while inventory stayed well above average, reinforcing buyer-favourable conditions and ongoing downward pressure on prices.
Key numbers (January 2026):
Sales:
- 1,107 total sales
- ↓28.7% year-over-year
- ↓30.9% below the 10-year seasonal average
- Fourth-slowest January in over 20 years
New listings:
- 5,157 properties listed
- ↓7.3% YoY
- ↑19.4% above the 10-year seasonal average
Active listings (current):
- 12,628 homes for sale
- ↑9.9% YoY
- ↑38.0% above the 10-year seasonal average
Sales-to-active listings ratio:
- Overall: 9.1%
- Detached: 6.7%
- Attached: 11.1%
- Apartments: 10.3%
(Ratios below 12% historically signal downward price pressure.)
Benchmark prices (MLS® HPI):
All residential homes:
- $1,101,900
- ↓5.7% YoY
- ↓1.2% month-over-month
Detached homes:
- $1,850,800
- ↓7.3% YoY
- ↓1.5% MoM
Apartments:
- $704,600
- ↓5.9% YoY
- ↓0.8% MoM
Townhomes:
- $1,043,400
- ↓5.4% YoY
- ↓1.2% MoM
Market context & outlook
According to GVR, January’s weak sales need to be viewed in context. With 2025 closing as one of the slowest years in more than two decades, the subdued start to 2026 reflects a market still adjusting to a “new normal.”
Inventory remains elevated as sellers continue to list despite tepid demand, keeping prices under pressure. GVR’s 2026 outlook suggests the year may closely resemble 2025—muted sales, plenty of choice for buyers, and prices finishing the year relatively flat.
That said, pent-up demand continues to build beneath the surface. As buyers adapt to ongoing economic and political uncertainty, the timing of a meaningful rebound remains uncertain—but it’s a key storyline to watch as the year unfolds.
Read on for the full Greater Vancouver REALTORS® January 2026 market report. And for North Shore insights, follow the link for our North & West Vancouver breakdown →
New year, same housing market in Metro Vancouver
Last year’s market trends continued in January as home sales registered on the MLS® in Metro Vancouver were 28.5 per cent lower than last year, setting the year off to a quieter start.
The Greater Vancouver REALTORS® (GVR) reports that residential sales in the region totalled 1,107 in January 2026, a 28.7 per cent decrease from the 1,552 sales recorded in January 2025. This was 30.9 per cent below the 10-year seasonal average (1,602).
“On their own, the January sales appear alarming, but it’s important to put these figures in the context of the past few years. Last year ended with one of the lowest sales totals in over two decades, and so it’s not surprising that the January sales figures were fourth slowest in over two decades as well,” said Andrew Lis, GVR’s chief economist and vice-president, data analytics. “Market momentum is a slowly evolving force, and in many ways, the January figures represent a market that continues slowly evolving to what may be a new normal.”
There were 5,157 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2026. This represents a 7.3 per cent decrease compared to the 5,566 properties listed in January 2025. This was 19.4 per cent above the 10-year seasonal average (4,318).
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,628, a 9.9 per cent increase compared to January 2025 (11,494). This is 38 per cent above the 10-year seasonal average (9,153).
Across all detached, attached and apartment property types, the sales-to-active listings ratio for January 2026 is 9.1 per cent. By property type, the ratio is 6.7 per cent for detached homes, 11.1 per cent for attached, and 10.3 per cent for apartments.
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.
“Our recent 2026 forecast suggests this year is likely to resemble 2025 on many fronts, and we expect sales to remain tepid. When paired with sellers remaining eager to list, inventory will likely remain elevated relative to historical averages and, as a result, we expect prices to finish the year relatively unchanged,” Lis said. “As consumers adjust to the ongoing backdrop of political and economic uncertainty, we expect a degree of pent-up demand to re-enter the market at some point. Whether it will happen in 2026 remains an open question, and we’ll be watching the market closely for signs of improvement.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,101,900. This represents a 5.7 per cent decrease over January 2025 and a 1.2 per cent decrease compared to December 2025.
Sales of detached homes in January 2026 reached 300, a 21.1 per cent decrease from the 380 detached sales recorded in January 2025. The benchmark price for a detached home is $1,850,800. This represents a 7.3 per cent decrease from January 2025 and a 1.5 per cent decrease compared to December 2025.
Sales of apartment homes reached 554 in January 2026, a 34.5 per cent decrease compared to the 846 sales in January 2025. The benchmark price of an apartment home is $704,600. This represents a 5.9 per cent decrease from January 2025 and a 0.8 per cent decrease compared to December 2025.
Attached home sales in January 2026 totalled 246, a 23.4 per cent decrease compared to the 321 sales in January 2025. The benchmark price of a townhouse is $1,043,400. This represents a 5.4 per cent decrease from January 2025 and a 1.2 per cent decrease compared to December 2025.
To read the full Greater Vancouver Realtors® Year End stats report click here