Over the past year, Vancouver’s real estate market has experienced a notable shift: home prices have dropped by about 10%, and if we look back to the 2022 peak, values are now down roughly 20%. For those of us who’ve watched Vancouver’s home prices rise rapidly in recent years, this adjustment marks a significant cooling after a period of intense growth.

As someone who has helped buyers and sellers navigate the Greater Vancouver and Fraser Valley markets for over 30 years, I know how important it is to understand these cycles. Right now, with inventory on the rise, economic growth slowing, and the possibility of further rate hikes, it’s likely that prices will remain subdued in the near term rather than bouncing back quickly. For anyone considering their next move, keeping a close eye on supply, growth, and financing options is essential. My goal is to help you make sense of these shifts and avoid common missteps, so you can make the most informed decisions for your future in our community.