The Single Biggest Mistake You Can Make When Buying a Home in Vancouver (and how to avoid making it)

Buying a home in Vancouver is truly an exercise in compromise. Vancouver is an expensive real estate market. If you are moving to Vancouver or already living in Vancouver that's not going to be a surprise to you.

But in my experience no matter how much money you have…$500,000 or $5,000,000…you will ALWAYS wish you had more. And in order to make buying a home in Vancouver work, you'll need to find a compromise.

BUT, there's one thing you should NEVER compromise on when buying real estate in Vancouver…and that's what today's video is all about…the single biggest mistake you can make when buying a home in Vancouver.

Even more importantly than the mistake, I'm going to give you step-by-step instructions on exactly how YOU can avoid making this horrendous mistake when buying a home in Vancouver whether you are moving to Vancouver or you already live in Vancouver!

Vancouver’s real estate market didn’t take a sudden turn in May. The pattern we’ve been seeing in recent months of a relatively weak market shifting toward buyer’s market territory continued through May.

Sales hit 654 in May. This was down slightly (-2.1%) from April but a fairly significant drop of -11.5% from the previous year (and -33.4% from the 10 year average).

It’s clear that demand was stifled in May. While being down just -2.1% isn’t really a big deal…it is when you take into account the typical historical pattern in our market…which is that sales are usually highest in May and June (although in recent years the peak sales have been moving earlier in the spring - March was the peak in 2021 and 2022 - but not in 2023 or 2024).

New listings followed a similar patter. They reached 2,036 which was slightly off the previous month (-0.7%) while they were +11.6% from the previous year (and +12.3% over the 10 year average).

Once again, these numbers are not following the typical spring pattern....