Vancouver Real Estate Update: Rising Housing Supply & Mortgage Pressures

Written in February 2025. Some details have changed since, so check current numbers before you act on this.

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

Vancouver's housing supply is rising while unemployment climbs and a wave of mortgage renewals approaches, and together those pressures could reshape the market in 2025 and 2026. Whether you're buying, selling or just keeping an eye on trends, you'll see below what each one means for you.

📉 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 year to January 2025 on Statistics Canada's Labour Force Survey numbers, something rarely seen outside of recessions.
• The number of workers unemployed for 27+ weeks is climbing in the same survey, showing no signs of slowing down.
• Vancouver's unemployment rate is rising too: Statistics Canada put it at 6.8% in January 2025, up from 6.5% in December.

💡 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. I went deeper on this in my later post on mortgage renewals.

• 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 fast:

• New listings surged in January.
• Condo listings are climbing, providing more options for buyers.
• With inventory climbing and sales slowing, the market is shifting toward a more buyer-friendly landscape.

💡 What It Means: More homes on the market means more choices for buyers. Sellers need to adjust expectations as competition increases. The Kyle Mark Report shows the current numbers for your area, free with an account.

🔑 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. My seller page shows how I do it.
• 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. Test the new payment on my mortgage calculator.
• 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!