Vancouver house prices fall 5.2% in October 2026
Greater Vancouver's benchmark home price fell to C$1,068,600 in October, -5.2% on the year, while sales dropped 10.2% and buyers waited out a rate hike.
The facts
- The MLS Home Price Index composite benchmark fell to C$1,068,600, -5.2% year on year and -0.7% against September 2026.
- Detached homes lost most: C$1,775,200, -7.0% on the year. Townhouses came to C$1,006,500, -5.5%, and apartments to C$673,400, -5.9%.
- Sales reached 2,024 in October, down 10.2% from the 2,255 of October 2025 and 22.5% below the ten-year seasonal average of 2,612.
- New listings came to 4,805, down 11.6% from 5,438, while active listings stood at 15,688, down 4.3% but 24% above the ten-year average of 12,649.
- The sales-to-active-listings ratio was 13.4%, split between detached at 11.6%, attached at 16.5% and apartments at 13.5%. Greater Vancouver REALTORS prints 12% as the level below which prices come under downward pressure.
- Andrew Lis, the board's chief economist, named "a somewhat surprising Bank of Canada rate hike and a snap provincial election" as October's distractions.
What it means for your money
- Entry is cheaper, financing is not. A detached home costs 7.0% less than a year ago, but a rate hike is now in the payment.
- Sellers meet the thinnest end of the market: at 11.6%, the detached ratio already sits under the 12% line the board itself calls downward pressure.
- Glopra puts a Vancouver city-centre square metre at 8,220 USD and round-trip transaction costs at 10.6% of the price, the figure that decides how long a holding period has to be to survive a falling benchmark.
What to watch
- The 12% ratio line is the board's own threshold for sustained downward price pressure, and detached is at 11.6% today.
- Financial markets are pricing a slight chance of another quarter-point Bank of Canada increase in December, the board's economist said.
- One limit: the package prints no days-on-market or months-of-inventory figure, so how long a sale now takes cannot be read from it.
Sources: Greater Vancouver REALTORS https://members.gvrealtors.ca/news/GVR-Stats-Package-October-2026.pdf