Metro Vancouver's housing market saw a slight dip in sales in May 2026 compared to last year, largely due to a slower apartment sector. While overall sales decreased, detached and townhome markets showed more stability. This report breaks down the key figures and trends for the month.
Key Takeaways
- Total home sales in May 2026 were down 3.5% year-over-year.
- Apartment sales experienced a 7% drop compared to May 2025.
- New listings were down 8% from last year, but slightly above the 10-year average.
- The sales-to-active-listings ratio ended May at around 13%.
- The MLS HPI benchmark price for all housing types is down 6% from last year.
May 2026 Sales Activity
In May, realtors registered 2,150 home sales across Metro Vancouver. This figure represents a 3.5% decrease from May of the previous year and is nearly 27% below the 10-year average for the month. The apartment segment was the main driver of this decline, with sales down about 7% compared to last May. In contrast, the detached and townhome markets showed more consistent activity.
New Listings and Inventory
Realtors listed over 6,100 homes on the MLS in May. This is about 8% less than what was listed at this time last year. However, it's just a little over 1% higher than the 10-year average for May. By the end of the month, there were more than 16,900 homes available for sale on the MLS. This inventory level is down 1% from last year but remains nearly 35% above the 10-year average for May.
Understanding Supply and Demand: The Sales-to-Active-Listings Ratio
To gauge the balance between supply and demand, we look at the sales-to-active-listings ratio. This ratio compares the number of homes sold during the month to the total number of homes available for sale.
Historically, when this ratio stays below 12% for a while, it suggests downward pressure on home prices. Conversely, when the ratio goes above 20% for several months, it often leads to upward pressure on prices.
In May, this ratio finished at approximately 13%. Breaking it down by property type:
- Detached Homes: 11%
- Attached Homes (Townhomes): 15%
- Apartments: 14%
Benchmark Prices in May 2026
The MLS HPI benchmark price for all types of homes in Metro Vancouver stood at $1,100,000 in May. This is a 6% decrease compared to the same month last year.
Here's how the benchmark prices break down by property type:
- Detached Homes: $1,848,000
- Townhomes: $1,048,000
- Apartments: $698,000
Outlook for the Summer Market
With demand tracking the forecasts closely so far this year, it's reasonable to anticipate a calm and steady summer market. There don't appear to be any major factors on the horizon that are likely to cause significant shifts in the market in either direction. For more detailed housing market information, please visit the market watch section on our website.
