Even as mortgage rates have crept down, Vancouver continues to contend with the worst housing affordability in Canada. The city’s steep price tags are exacerbated by external shocks—from the ongoing trade wars between China and the US to local economic idiosyncrasies—that keep potential buyers wary.

For the detached house homebuyer, the current environment appears favourable: abundant inventory and softening demand offer new negotiating power. However, the inherent complexities of the market suggest that any decision to buy should be tempered by long-term considerations, particularly in light of the fragile consumer confidence and broader economic uncertainties.

A Better Time to Buy Last Year

For those eyeing a detached house in Vancouver, the conditions are arguably ripe—plenty of supply, a measured price recovery, and a buyer’s market that grants a fair degree of bargaining power. In the condo arena, however, the balancing act between buyers and sellers indicates that while there may be opportunities, it is a market that requires cautious navigation. As Vancouver’s property market continues to evolve, prospective buyers should weigh the immediate favourable conditions against the broader, persistent challenges of affordability and economic unpredictability.