Royal LePage forecasts Metro Vancouver prices to fall 3.5% this year

Royal LePage is forecasting the region's home prices will fall 3.5 per cent in the fourth quarter of 2026 compared to a year earlier, continuing an ongoing slide for Metro Vancouver.

The national brokerage is expecting Metro Vancouver to underperform every other major market in the country. Greater Toronto is the only other major market expected to post a decline, with prices forecast to fall two per cent. Prices are expected to rise everywhere else in the country, with the strongest gains in Quebec.

This forecast follows the second quarter's 4.5-per-cent decrease to $1,164,100, according to a report released Tuesday, July 14. By housing type, the median price of a single-family detached home decreased 5.2 per cent year-over-year to $1,649,200 in the second quarter, while the median price of a condominium decreased 5.1 per cent to $721,000.

In Vancouver itself, the aggregate price of a home decreased five per cent year-over-year to $1,340,800 in the second quarter of 2026. The median price of a single-family detached home decreased 5.7 per cent to $2,128,000, while the median price of a condominium declined 7.9 per cent to $748,100.

Randy Ryalls, broker and manager with Royal LePage Sterling Realty in Port Moody, said the market has been "a little bit soft" for most of 2025 and so far in 2026, with lots of inventory, fewer transactions, and a clear buyer's advantage. "We expect kind of a slow adjustment to occur probably now through the end of the year," he said. Ryalls noted prices may be nearing a turning point, though timing the market is difficult. Momentum is returning—the market saw a spark in the last couple of weeks of June, with the number of sales increasing slightly each month and outpacing listings in recent weeks.