🚨 Vancouver Real Estate Update: Rising Housing Supply & Mortgage Pressures

The Vancouver real estate market is shifting, and February’s data confirms it. We’re seeing a surge in housing inventory, rising unemployment, and a wave of upcoming mortgage renewals that could reshape the market in 2025 and 2026. Whether you’re buying, selling, or just keeping an eye on trends, let’s break it all down.

📉 What’s Happening in the Market?

🔎 Unemployment is Climbing – A Warning Sign?

Canada’s long-term unemployment rate is on the rise, and Vancouver is feeling the impact.

• Unemployment for 52+ weeks has doubled in the past year—something rarely seen outside of recessions.
• The number of workers unemployed for 27+ weeks is climbing, showing no signs of slowing down.
• Vancouver’s unemployment rate is now 6.5%, the highest it’s been (outside of COVID years) in over a decade.

💡 Why This Matters: A weaker job market affects buyer confidence, mortgage approvals, and overall market stability.

💰 Mortgage Renewals: The Next Big Market Shift?

We’re entering the biggest wave of mortgage renewals in decades, with the majority set to hit in 2025-2026.

• Homeowners who locked in ultra-low rates in 2020-2021 are facing massive payment jumps when they renew.
• More properties could hit the market as homeowners struggle with affordability.
• This could help stabilize home prices by adding more inventory, but also increase forced sales.

🏡 For Buyers: If more listings hit the market, it could mean more negotiating power for you.

📉 For Sellers: More competition means pricing strategically is key—don't overestimate buyer demand.

📊 Housing Inventory is Rising – A Shift to a Buyer’s Market?

Vancouver’s housing supply is growing at the fastest pace in over a decade:

• New listings surged 30% in January, marking the biggest increase since 2012.
• Condo listings are at a 10-year high, providing more options for buyers.
• With inventory climbing and sales slowing, the market is shifting toward a more buyer-friendly landscape.

💡 Key Takeaway: More homes on the market means more choices for buyers. Sellers need to adjust expectations as competition increases.

🔑 What This Means for You

✅ Thinking of Buying?

• More inventory means less competition, especially in the condo market.
• Watch mortgage rates—cuts are expected in 2025, which could fuel demand again.

✅ Thinking of Selling?

• Price strategically—overpricing will cost you time and money.
• Expect longer days on market as buyers gain leverage.

✅ Investors & Homeowners:

• Plan ahead for mortgage renewals. If your rate is expiring in 2025-2026, now is the time to strategize.
• Cash flow is king. Ensure your property is positioned to handle shifting market dynamics.

📅 Next Steps

Need expert advice on how to navigate this market? Whether you're buying, selling, or investing, let's build a strategy that works for you.

📞 Book a discovery call: Schedule Here

🏡 Search Vancouver listings: View Listings

📊 Check your BC Assessment: Assessment Tool

Stay informed and stay ahead—2025 is shaping up to be a major turning point for Vancouver real estate. Let’s make sure you’re prepared!