Vancouver Affordability Eases, but Relief Is Partial

Vancouver buyers got meaningful affordability relief, but the improvement stayed incomplete, leaving the market under heavy strain and keeping ownership costs exceptionally challenging.
Earlier declines had reversed more than half the pandemic-era affordability spike, showing progress for buyers even as Vancouver remained the country's toughest market for buyers.
In BC, softer labour conditions limited pay growth, so still-falling prices did not translate into the full affordability boost many Vancouver buyers needed.
Market strain also showed up in activity, with resales lower and prices softer across housing categories, giving buyers more selection as inventory stayed abundant.
Near term, home values were expected to keep easing as demand slumped and inventory stayed plentiful, a setup that could extend relief for buyers.