credit – THE CANADIAN PRESS/Darryl Dyck
Metro Vancouver home sales dipped in May as condo sales weakened. Detached homes remained steady while prices continued to ease.
Apartment Market Weighs on Metro Vancouver Sales
Metro Vancouver’s housing market saw a slight slowdown in May, and one segment stood out for all the wrong reasons.
A new report from Greater Vancouver Realtors (GVR) shows overall home sales fell four per cent compared with May 2025. However, the decline did not affect every part of the market equally. Instead, weaker apartment sales played the biggest role in pulling numbers lower.
While buyers remained active in other housing categories, condo sales lost momentum across much of the region.
Detached and Attached Homes Hold Their Ground
According to GVR Chief Economist and Vice-President of Data Analytics Andrew Lis, detached home sales edged up by roughly one per cent year over year. Meanwhile, attached properties maintained similar sales levels to last year.
In contrast, apartment sales dropped about seven per cent compared with May 2025.
Even so, not every community experienced a downturn. North Vancouver and East Vancouver recorded gains in apartment sales, showing that buyer demand varied across Metro Vancouver.
Inventory Remains Healthy Across the Region
The market welcomed 6,115 new listings during May, although that figure was slightly lower than the number recorded a year earlier.
At the same time, buyers had plenty of options. Metro Vancouver finished the month with 16,917 active listings available for purchase.
As a result, inventory levels continued to support market stability. The sales-to-active listings ratio reached 13.1 per cent in May, sitting just above the level often associated with downward pressure on prices.
Home Prices Show Little Movement
Despite softer demand, prices remained largely unchanged from April.
Lis noted that healthy inventory levels absorbed the slower pace of sales with ease. Consequently, price trends across detached, attached, and apartment homes stayed relatively flat month over month.
The composite benchmark price for all residential properties in Metro Vancouver now sits at $1,100,700. That figure represents a 6.2 per cent decline from May last year and a slight 0.2 per cent decrease from April.
Summer Market Expected to Stay Balanced
Looking ahead, GVR expects stable conditions through the summer months.
Sales activity has closely matched earlier forecasts so far in 2026. Therefore, industry experts do not anticipate major shifts in either direction in the near future.
With no significant economic or market triggers on the horizon, buyers and sellers can likely expect a calm and orderly market through the summer season.
Fraser Valley Shows Different Market Trends
Meanwhile, the Fraser Valley market delivered slightly stronger results.
Home sales increased by 0.5 per cent from April. However, activity still remained five per cent below levels recorded one year ago.
The Fraser Valley Real Estate Board says detached homes continue to attract the most attention from buyers.
Move-Up Buyers Drive Demand
Board Chair Ishaq Ismail says first-time buyers remain cautious. Instead, homeowners with existing equity are leading much of the market activity.
As detached home prices become more accessible, many buyers are taking the opportunity to upgrade into larger properties. Consequently, homes that once seemed out of reach are now attracting renewed interest.
Fraser Valley Prices Continue to Ease
Price growth also remained subdued in the Fraser Valley.
The region’s composite benchmark price fell by 0.7 per cent in May, reaching $893,300.
Although market conditions remain balanced, both buyers and sellers continue to navigate a housing landscape shaped by higher inventory levels and measured demand.
