OPINION: Inside Vancouver’s next housing cycle — demand, supply and affordability

Vancouver’s housing market is in a phase of gradual adjustment, not boom or collapse. Demand is driven by population growth and household formation, but affordability limits purchasing power. Supply responds slowly due to long construction timelines and higher financing costs. Sales volumes remain low, inventory has increased unevenly, and rents stay firm. Future changes will be gradual, shaped by fundamentals rather than sharp price shifts.