Market Update - March 2026

The big news is… there’s no big news. The latest sales numbers show that we’re almost exactly where we were in March 2025, when the market really began to slow down.  There was some optimism earlier this year that activity was picking up. However, global uncertainty—including the recent conflict in the Middle East—and rising costs across the board (fuel, travel, groceries) appear to have caused many buyers and sellers to pause.Here’s a quick snapshot:

Sales: 2,032 homes sold in March, down 2.8% from last year 

and 31.8% below the 10-year average

New Listings: 5,792 new listings, down 10.3% year-over-year 

Active Inventory: 14,774 listings, 38% above the 10-year average

Inventory continues to be the key story. Many sellers are now choosing to wait or rent their properties, and fewer new developments are coming to market. As a result, while new inventory is decreasing it will likely take the rest of 2026—and possibly into 2027—for this 

excess supply to be absorbed.

One of the most notable trends right now is the rise of micro-markets. Some neighbourhoods are still performing strongly, with homes selling quickly, while others just blocks away are seeing much slower activity.

If you’re thinking about selling, understanding these hyper-local dynamics is essential. Pricing strategy matters more than ever.  While it’s currently a more challenging market for sellers, well-priced homes are still selling—and sometimes with multiple offers if staged, marketed and priced right.  It takes more effort but you can still see great results.

For buyers, this is one of the most favourable markets we’ve seen in years: more selection, softer pricing, and the time to make sure you are buying the right property.  If you’re thinking of buying this year I see no reason to wait.  My outlook is that we’ll likely see similar conditions continue through the rest of 2026, so if you’re considering making a move, plan to buy when you find the right property and the timing works for you personally.

I’d be happy to walk you through what’s happening in your specific neighbourhood and help you create a strategy that makes sense for you.Feel free to reach out anytime—I'm always here as a resource, whether you’re just starting to think about a move or ready to take the next step.

📞 Get in touch anytime: 604-831-3616

📧 Email: kr@welcomehomeyvr.com

As expected, the Bank of Canada held its benchmark interest rate steady at 2.25% at the March 18th announcement. 

That said, there’s a bit more happening beneath the surface. As I mentioned in my last newsletter, Canadian bond yields have been on the rise—and that’s what’s really driving fixed mortgage rates right now. We’ve seen rates move from the high 3% range into the low 4’s for most 3–5 year fixed terms. 

The next Bank of Canada announcement is scheduled for April 29th, and at this point,

 it’s still a bit of a wait-and-see.

They’re in a tricky position:

Two competing forces…which is why, if I had to guess, I think we’ll see another hold. In the meantime, the bigger influence on actual mortgage rates continues to be bond yields—

and those are being heavily impacted by global uncertainty, particularly the ongoing conflict

 in the Middle East.

Even when the Bank of Canada holds steady, mortgage rates can still move. If you’re coming up for renewal, thinking about restructuring, or considering a purchase, it’s worth having a quick conversation about your options.

I work with some fantastic mortgage brokers and I’m always happy to connect you. It costs nothing to explore your options—and it can make a significant difference.

A quick note for my film industry friends: if you’re self-employed or working contract to contract, a good broker is especially important. They know how to position your income in a way that a traditional bank often won’t.

📩 Feel free to reach out anytime — I’m always happy to connect you with the right people.

🏡 It’s never been more important to present your home well!

 —

If a potential buyer doesn’t feel a connection the moment they walk in, 

they’re likely to move on to the next property. 👀

This is where I can help. With my extensive background in design, I can assist with 

so it feels warm, inviting, and memorable. ✨

The great news? This service is included free of charge for all my clients!  

It’s just one of the ways I help sellers stand out in a competitive market and 

get the best possible results.

I absolutely love helping people find their dream homes —and the best part? Seeing happy clients thrive in their new spaces!Referrals are the heart of my business, and every person you send my way gets the upmost care, honesty, and guidance ❤️Who can you refer?Friends thinking of buying or selling 🏠Family ready to take the next step 🌿Colleagues curious about the market 💼Sharing is easy!  Connect us by email, text, or drop me a message. I’ll handle the rest!🙏 Thank you for trusting me with your referrals—they truly mean the world🌟