The Vancouver real estate market is undoubtedly slower than usual, but that doesn’t mean people have stopped buying. In fact, just last month alone, over 2,000 properties were purchased across Metro Vancouver. So, who exactly is buying real estate in this market — and why?
As a Vancouver real estate agent with over 11 years of experience helping buyers and sellers navigate the market, I want to break it down for you. Understanding who is active in the market today can help you make smarter decisions, whether you’re planning to buy or sell.
1. Upsizers Are Taking Advantage
One major group of buyers right now are upsizers — people moving from a smaller property, like a townhouse, into a detached home.
When the Vancouver housing market softens, upsizing actually becomes a smart financial move. Here’s why: if prices drop 10%, a $1.5M detached house falls by $150,000, while a $750,000 townhouse only drops by $75,000. Upsizers gain more value in the larger property relative to their loss on the smaller one.
If you’re considering buying a larger home in Vancouver, this slower market could offer the perfect opportunity.
2. First-Time Home Buyers Are Entering the Market
Another group actively buying real estate in Vancouver are first-time home buyers, particularly renters who have been forced to move due to landlord sales or end-of-lease notices.
For renters who already have a down payment saved and feel secure in their jobs, buying now — even in a slower market — often makes more sense than entering into another expensive rental lease.
3. Downsizers Are Selling and Moving to Condos
People who have owned their homes for 20+ years, many of whom are mortgage-free, are starting to downsize.
Despite a cooling market, Vancouver real estate prices remain historically high. Downsizers can sell their detached homes, purchase a condo or townhouse, and free up capital for retirement — an appealing option especially with recent stock market volatility.
4. Family-Oriented Investors Planning for the Future
Unlike speculators, these family investors buy pre-sale properties now with plans for their children to live there in a few years.
These buyers aren’t looking for a quick flip — they’re planning ahead for their kids, locking in today’s prices and setting their families up for future success in the Vancouver real estate market.
5. Who Is NOT Buying Right Now?
Notably absent from today’s market are short-term speculators and long-term real estate investors.
Higher interest rates and dropping rental rates in Vancouver have made investment properties less attractive. Additionally, with less opportunity for quick gains, speculators who usually target pre-sales have largely pulled back.
Should You Buy or Sell Real Estate in Vancouver Now?
Deciding whether to buy or sell depends on two factors:
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The current market conditions
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Your personal circumstances
Sometimes, even if the market isn’t “perfect,” your situation (family growth, job stability, moving needs) may make buying or selling the right move. As always, it’s important to consult with a local Vancouver real estate expert to assess your specific situation.
Final Thoughts
While the Vancouver real estate market has cooled compared to recent years, there is still a healthy amount of buying activity — especially among upsizers, first-time buyers, downsizers, and family-oriented investors.
If you’re planning to buy your first home, upsize to a larger property, or downsize for retirement, understanding who else is active in the market can give you a strategic advantage.
If you have any questions about buying or selling real estate in Vancouver, I’m always happy to help! Feel free to contact me directly — whether you need advice, a personalized market evaluation, or just want to chat about your next move.
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