The Vancouver housing market continued its cooling trend in November, with sales activity declining significantly compared to the same period last year, according to the latest data from the local real estate board.
November Sales Show Significant Downturn
The board reported that home sales in November 2025 were down 15% compared to November 2024. This decline marks a continuation of the softening trend observed in the market over recent months, as higher borrowing costs and economic uncertainty continue to weigh on buyer demand.
Prices Follow Sales Lower
Accompanying the drop in sales volume was a downward movement in prices. The board's data indicates that property prices in the region have moved lower, reflecting the shift towards a more balanced market. While specific benchmark price figures were not detailed in the initial report, the overall direction points to a cooling price environment across various property types in the Metro Vancouver area.
A Shift in Market Dynamics
The combined effect of falling sales and easing prices suggests the market is undergoing a notable correction. After years of steep price appreciation and intense competition, buyers are now encountering more options and less pressure. This period of adjustment provides a stark contrast to the frenzied activity that characterized the Vancouver market during the peak of the pandemic-driven real estate boom. Analysts suggest that the current conditions may persist as the market seeks a new equilibrium.
The data, released by the board on December 2, 2025, provides a clear snapshot of the year-end market sentiment. The report underscores how broader economic factors, including interest rate policy and inflation, are directly impacting one of Canada's most watched housing markets. The coming months will be critical in determining whether this is a seasonal slowdown or the beginning of a more sustained period of moderation for Vancouver real estate.