The Housing Math Is Changing and Buyers Need to Catch Up
Over the past few years, buyers have been trained to sit on their hands.
Rising interest rates. Rapid price growth. Headlines predicting everything from a crash to permanent unaffordability. For a while, caution made sense.
But here’s the reality as we move into 2026:the math behind buying a home in British Columbia, including here in Richmond and Greater Vancouver, has shifted. And in many cases, it’s working better than people think.
The problem isn’t the numbers anymore.
It’s perception.
Affordability Has Quietly Improved
Let’s start with the basics.
Compared to the frenzy we saw in 2021 and early 2022:
Prices have stabilized, and in some segments softened
Inventory has improved, giving buyers more choice
Mortgage rates, while higher than the ultra-low years, have found a more predictable range
That combination matters.
Affordability isn’t just about price or rate on its own, it’s about how those two work together. When prices stop racing ahead and buyers aren’t competing in bidding wars, the overall cost of ownership becomes far more manageable, even with today’s borrowing costs.
In other words, buyers are no longer fighting the market and the bank at the same time.
The Rate Shock Is Over, Stability Is Back
A lot of hesitation I see today comes from one thing: rate shock hangover.
Many buyers are still anchored to the idea that rates “must” come down dramatically before it makes sense to buy. The problem with that thinking is twofold:
The historically low rates of the past decade were an exception, not the rule
Waiting for those rates to return could mean waiting a very long time
What we’re seeing now is something healthier: rate stability.
Predictable rates allow buyers to plan, budget, and make long-term decisions with confidence. Lenders are underwriting more conservatively, households are stress-tested properly, and buyers aren’t stretching to dangerous limits.
That’s not a bad thing. It’s a more sustainable market.
Choice Has Returned to the Buyer Side
For the first time in years, buyers actually have time again.
Time to:
View multiple properties
Compare options
Negotiate terms
Include conditions that protect them
That alone changes the experience dramatically.
Instead of rushing into a decision out of fear of missing out, buyers can focus on value, location, long-term suitability, and lifestyle fit. That’s how smart real estate decisions are supposed to be made.
And for sellers, this is where proper pricing and strategy matter more than ever. Homes that are positioned well are still selling. Homes that aren’t… sit.
Waiting for “Perfect” Conditions Rarely Works
One of the biggest mistakes buyers make, especially in markets like Greater Vancouver, is waiting for a moment that feels perfectly safe.
Perfect rates.
Perfect prices.
Perfect certainty.
That moment almost never arrives.
Historically, buyers who succeed are the ones who act when the fundamentals make sense for them, not when headlines turn optimistic. By the time confidence fully returns, competition usually follows right behind it.
We’re already seeing early signs of that in certain pockets.
What This Means for Richmond & Greater Vancouver
Our region doesn’t move in straight lines.
Some neighbourhoods, property types, and price ranges will outperform others. Condos behave differently than detached homes. Entry-level buyers face different challenges than move-up or downsizing buyers.
But broadly speaking, we’re in a phase where:
Buyers have leverage they haven’t had in years
Sellers who price realistically can still achieve strong results
The market rewards preparation and patience, not panic
This is not a boom cycle. It’s a decision-driven market.
The Real Opportunity Right Now
The opportunity today isn’t about timing the bottom or chasing headlines.
It’s about:
Buying with less competition
Negotiating more favourable terms
Locking in housing before the next confidence shift
Making long-term decisions with clearer math
For some, that means buying now makes sense.
For others, it still may not, and that’s okay.
The key is making that decision based on current realities, not outdated fears.
Final Thought
The housing market hasn’t become easy.
But it has become more rational.
The math works better than many people realize. The challenge is unlearning the mindset of the last few years and looking at today’s conditions with fresh eyes.
If you’re considering a move, whether buying, selling, or simply understanding where you stand, clarity matters more than prediction.
And that’s a conversation I’m always happy to have.
If you're navigating this dynamic market, whether buying or selling, let's talk strategy. Our team can guide you through the most efficient processes, aiming to save you time, money, and hassle. Contact us today, and let's make your real estate journey successful!
