Metro Vancouver home sales fell 10.2% in October as rate hike and elections slowed buyers
The Greater Vancouver REALTORS reported 2,024 residential sales in Metro Vancouver in October 2026, 22.5% below the 10-year seasonal average, as a Bank of Canada rate increase and two elections pulled buyers back.
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Metro Vancouver home sales fell 10.2% in October compared to the same month in 2025, according to the Greater Vancouver REALTORS' monthly market report released today. Sales totalled 2,024 transactions, which is 22.5% below the 10-year seasonal average of 2,612 for October.
The Greater Vancouver REALTORS' chief economist Andrew Lis said October came with two things that made buyers and sellers step back: a Bank of Canada rate increase on October 28 and news coverage of both a provincial and a municipal election running at the same time.
"Between the onslaught of news coverage of the provincial and municipal elections, and the uncertainty surrounding where mortgage rates may be headed, it's not entirely surprising that market participants took a step back in October to recalibrate," Lis said.
Prices by type
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is $1,068,600 as of October 2026, the Greater Vancouver REALTORS reports. That is 5.2% lower than October 2025 and 0.7% lower than September 2026.
Detached homes saw the largest price drop:
- Detached: benchmark $1,775,200, down 7% year-over-year. Sales: 643, down 7.2%.
- Attached (townhomes): benchmark $1,006,500, down 5.5% year-over-year. Sales: 468, down 1.9%.
- Apartments: benchmark $673,400, down 5.9% year-over-year. Sales: 892, down 16.7%.
Listings and inventory
New listings in October totalled 4,805, down 11.6% from the 5,438 listed in October 2025. Total active inventory was 15,688 properties, a 4.3% decrease from October 2025, and 24% above the 10-year seasonal average.
The sales-to-active listings ratio for all property types was 13.4%: 11.6% for detached homes, 16.5% for attached homes, and 13.5% for apartments. The Greater Vancouver REALTORS says downward pressure on prices typically builds when this ratio stays below 12% over a sustained period. The detached market, at 11.6%, is close to that threshold.
What comes next
Lis said buyers are caught between prices that have been falling through most of 2026 and borrowing costs that have now risen. He said some buyers may act before rate holds expire, now that the October rate hike is behind them.
"Whether we finish 2026 stepping forward rather than back, remains the defining question that will set the tone for the New Year," Lis said.
Anyone thinking about buying or selling a home in Metro Vancouver can read the full October 2026 report at the Greater Vancouver REALTORS website.
Questions this story answers
How many homes sold in Metro Vancouver in October 2026?
According to the Greater Vancouver REALTORS, 2,024 homes sold in October 2026. That is 10.2% fewer than the 2,255 sales in October 2025, and 22.5% below the 10-year seasonal average of 2,612 sales for October.
What is the benchmark price for a home in Metro Vancouver?
The Greater Vancouver REALTORS reports the MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is $1,068,600 as of October 2026. That is a 5.2% decrease from October 2025 and a 0.7% decrease from September 2026.
What did the GVR economist say about why sales fell?
Andrew Lis, chief economist and vice-president of data analytics at the Greater Vancouver REALTORS, said October came with distractions for buyers and sellers: a Bank of Canada rate hike on October 28 and two elections running at the same time. He said it was not surprising that people stepped back to recalibrate when mortgage rates became uncertain.
What happened to detached home prices in Metro Vancouver in October?
The Greater Vancouver REALTORS reports that the benchmark price for a detached home in Metro Vancouver fell to $1,775,200 in October 2026. That is 7% lower than October 2025 and 0.5% lower than September 2026. Sales of detached homes totalled 643, down 7.2% from the 693 sales in October 2025.
What happened to apartment prices in October 2026?
The Greater Vancouver REALTORS reports the benchmark price for an apartment fell to $673,400 in October 2026, down 5.9% from October 2025 and 1.3% from September 2026. Apartment sales totalled 892, a 16.7% drop from the 1,071 sales in October 2025.
What is the sales-to-active listings ratio, and what does it mean?
The Greater Vancouver REALTORS reports the overall sales-to-active listings ratio for Metro Vancouver was 13.4% in October 2026. By property type: 11.6% for detached homes, 16.5% for attached homes, and 13.5% for apartments. The GVR says historical data shows that when the ratio stays below 12% over a sustained period, prices tend to fall. At 13.4%, the market is in balanced territory overall, though detached homes are close to the downward-pressure threshold.
How many homes were listed for sale in Metro Vancouver in October?
The Greater Vancouver REALTORS reports 4,805 properties were newly listed in October 2026, an 11.6% decrease from the 5,438 properties listed in October 2025. Total active inventory was 15,688 properties, a 4.3% decrease from October 2025, and 24% above the 10-year seasonal average.
What does this data mean for someone thinking about buying or selling in Vancouver?
The Greater Vancouver REALTORS chief economist Andrew Lis said buyers face a difficult situation: prices have been moving lower through 2026, but the Bank of Canada rate hike has raised borrowing costs, reducing those affordability gains. Lis said some buyers may step in before rate holds expire, but whether the market ends 2026 on firmer ground remains an open question. Anyone thinking about buying or selling can read the full October 2026 report at the Greater Vancouver REALTORS website.
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