David’s Real Estate Blog
Drawing on nearly 30 years of experience in Greater Vancouver and the Fraser Valley, I share the market insights, strategies, and local knowledge you need to make your next move with confidence.
David’s Real Estate Blog
Drawing on nearly 30 years of experience in Greater Vancouver and the Fraser Valley, I share the market insights, strategies, and local knowledge you need to make your next move with confidence.
Will Mortgage Rates Shape the Rest of 2026?
Mortgage rates remain near their highest levels of 2026, limiting affordability for many first-time and move-up buyers.
Rising bond yields continue putting upward pressure on borrowing costs.
Buyers are delaying purchases while hoping financing conditions improve.
Experts expect mortgage rates to remain the biggest housing market driver through year-end.
The housing market is tough, but first-time buyers just got some good news
The starter-home market is easing, with more inventory, price cuts, and fewer bidding wars, giving first-time buyers greater negotiating power. While mortgage rates remain high, buyers can negotiate seller concessions and take more time to decide. Luxury home sales are rising, but starter-home sales have declined. For financially prepared buyers, current conditions offer a less competitive, more balanced market to purchase a starter home.
Vancouver Sales Slide in July 2026
Early-Q3 brought 2.1K Vancouver home sales, ↓~10% yearly and ~19% below the 10-yr seasonal avg., erasing the Late-Q2 gains that opened summer.
Vancouver's composite benchmark for all residential property types was $1.09M in Early-Q3, ↓low-6% yearly and ↓~1% MoM from Late-Q2 for a softer pricing backdrop.
New listings reached 5K in Early-Q3, ↓~12% yearly, yet they closely matched Vancouver's 10-yr seasonal avg. for new supply coming onto the market.
Total inventory stood at 16.5K homes in Early-Q3, ↓~4% yearly but still ~27% above Vancouver's long-term avg., giving buyers more options to consider.
An economist said Vancouver's sales story has often been one step forward, one step back, with Late-Q2 and Early-Q3 showing that pattern.
Helping Parents Downsize: Tips for a Smooth Transition
Helping parents downsize requires respect and focusing on their needs. Start by discussing what parts of their home still work and what challenges they face. Downsizing simplifies responsibilities like yardwork and bills, and debt consolidation may ease finances. Break the process into smaller steps, sorting items gradually and organizing important records. Preserve meaningful memories through select keepsakes or digital archives. Prioritize comfort and control to create a manageable, independent living space.
Vancouver Buyers Gain New Mortgage Flexibility
In Vancouver, the higher insured-mortgage cap helped first-time buyers finance homes up to $1.5M, opening options for purchases that previously required much larger downpayments.
Near that threshold, some buyers could put down as little as 5% instead of 20%, though insurance premiums could still add tens of thousands.
Vancouver brokers also credited expanded 30-yr amortizations for first-time buyers with improving affordability, beyond earlier limits that applied only to newly built homes.
Another measure drew support in Vancouver: help covering municipal development fees, which an expert said can reach 30% of new construction costs.
Still, the bigger Vancouver challenge remains supply: families need more livable newly built 3-bedroom and 4-bedroom homes, because too few of those units exist.
What Do Homeowner’s Insurance Inspections Look For?
Homeowner's insurance inspections assess property condition to evaluate risk and determine premiums or coverage. Inspections vary by insurer and home age, ranging from drive-by exterior checks to detailed four-point inspections covering roof, HVAC, plumbing, and electrical systems. Older or high-value homes may undergo full inspections, including safety features and structural checks. Some insurers allow self-inspections via photo submissions. Inspections may lead to premium changes, required repairs, or policy cancellation.
Canada’s Housing Market Is Splitting in Two
Canada’s major markets moved in different directions in Early-Q3 2026, with recoveries, turnarounds, supply pressures, soft landings, and continuing weakness appearing together.
Toronto showed recovery signs with five straight mo of resale gains, a second MoM benchmark price rise, and Ontario inventory leveling off.
Even so, Toronto remained uneven: resales stayed >30% below pre-pandemic levels, the 905 region lagged yearly, and abundant condo supply kept pressure on prices.
Calgary’s issue was supply, not demand: new listings fell in 5 of 6 mo, active listings ↓>4% yearly, and price declines eased.
Vancouver remained in a deeper slump, with resales ↓>8% MoM and prices ~6% lower yearly, while an economist expected Canada’s unevenness to persist.