Experts say a reported jump in home sales last month doesn’t capture the full story of the Metro Vancouver housing market.
Home sales in the region rose 22 per cent from February to March — a typical sign of spring momentum — but according to HouseSigma’s March 2026 Market Watch analysis, the broader trend is much slower.
Sales dropped 4.8 per cent compared to the same month last year and were 42 per cent below the 10-year average.
House Sigma’s Joannah Connolly says the month stands out against an even longer span of time.
“It’s actually the second slowest March for sales in our 24-year transaction history,” said Connolly.
Connolly says while the season does typically bring momentum, the market remains subdued, with buyers waiting for prices to drop.
“Buyers started thinking, ‘Well, if prices are coming down, they might come down further. So we’re going to sit on the sidelines here and see if we can get an even better deal in 2026, perhaps.’ And now we’re getting to spring, 2026, and sales are not picking up. Everyone still seems to be waiting.”
Year over year, HouseSigma’s report found the median price for detached homes fell 7.6 per cent, the price for condos dropped 5.2 per cent, and the price for attached homes came down 5.4 per cent.
“It will be really interesting to see over the rest of the spring market in April and May — which are typically the higher months for sales — whether it picks up at all, or whether people continue to stay on the sidelines.”