Is It Time to Stop Waiting?

A question I’m hearing a lot right now is whether buyers should wait a bit longer before making a move. CREA’s senior economist answered that pretty directly this week. His take: affordability is about as favourable as buyers should expect it to get. The data is starting to back him up.

National Avg. Price
$700K+
4th consecutive monthly gain

Sales MoM Change
+5.5%
Ontario leading recovery

Months of Supply
~4.8
Tightening modestly

Sales-to-New-Listings
49%
Market gradually balancing

Source: Canadian Real Estate Association (CREA), May 2026

Market Balance Indicator

Buyer’s Market
Balanced
Seller’s Market

The national average home price topped $700,000 for the first time in roughly two years, though most of that lift came from a higher share of detached homes selling rather than prices jumping across the board. Sales were up 5.5% month-over-month, driven largely by Ontario. Activity is still running below last year’s already-soft levels overall, but the direction has clearly shifted.

Inventory sits at about 4.8 months of supply and the sales-to-new-listings ratio has firmed to 49%, both signs the market is gradually moving toward balance. Detached and single-family homes are leading the rebound. Condos are still lagging.

What This Means for You

• If you’ve been waiting for a better entry point: CREA’s own senior economist is saying this may be about as good as affordability gets. The floor may already be in, and the detached market is already climbing.
• If you’re looking at condos: The condo segment is still trailing the broader recovery. That lag is an opportunity, but it won’t stay open forever once the market tightens further.
• If you’re renewing or shopping for a mortgage: Fixed rates remain competitive. Worth having a conversation now rather than after conditions shift further.

Burnaby
Metrotown
Active Listing
Sub-Penthouse

MLS® R3137461

2505 – 6540 Burlington Avenue, Burnaby

Burlington Square  ·  Listed by Mani Mahaseni  ·  Coldwell Banker Prestige Realty

$669,000

2 Bedrooms
1 Bathroom
1,228 sq ft
Sub-Penthouse (25th Floor)
270° Views
Fully Renovated
In-Suite Laundry
Fitness Centre + Hot Tub
1 Parking + Storage
Rentals Allowed
Pets Allowed

A renovated sub-penthouse on the 25th floor of a 26-storey concrete tower in the heart of Metrotown. Panoramic 270-degree views of the ocean, mountains, and city skyline. Modern kitchen with quartz counters, stainless steel appliances, and an oversized island. Spa-inspired bathroom with a deep soaker tub and porcelain tile. Laminate floors, in-suite laundry, and a private balcony. Building amenities include a fitness centre, squash court, basketball court, hot tub, and bike room. Steps to Metropolis at Metrotown, SkyTrain, Bonsor Recreation Centre, and Central Park. One underground parking stall and storage locker included. Rentals and pets welcome. This is exactly the kind of listing the CREA data is pointing to: 1,228 sq ft at the sub-penthouse level in Metrotown, priced under $670,000, while the detached market is already climbing.

View full listing details →

Mani Mahaseni
Coldwell Banker Prestige Realty
📞 604-408-0008  |  cbpr@coldwellbanker.ca

Financing Example

Rates are subject to change at any time. This example is for informational purposes only. Individual qualification and terms will vary. Reach out to get your personalized numbers.

Father’s Day Weekend

The FIFA World Cup rolls on with another match at BC Place on Sunday, and the Lower Mainland has a strong lineup of free and family-friendly events to round out the weekend.

⚽ FIFA World Cup 2026

Match Day
New Zealand vs. Egypt
BC Place · Sunday June 21 · 6:00 PM PT
Vancouver’s fourth World Cup match of the tournament. The FIFA Fan Festival continues daily at PNE Grounds with free general admission, giant screens, live entertainment, and food vendors from around the world.

Free
FIFA Fan Festival at the PNE
PNE Grounds · Daily through July 19 · Free GA
Vancouver’s official World Cup fan hub runs daily through the entire tournament. Free entry, 10,000-seat amphitheatre for match broadcasts, live music, food and family activities. Up to 25,000 fans on match days.

🎸 Metro Vancouver & Fraser Valley

Free · Registration Required
Barns to Beaches Festival
Southlands Red Barn, Tsawwassen · Saturday June 20
Delta’s inaugural community festival headlined by Delta’s own 54-40. Bike rides from 10 AM (1km kids loop, 8km leisure, 32km full course). Outdoor concert from 2 PM with multiple acts. Register at barnstobeaches.com.

Many Events Free
Vancouver International Jazz Festival
Multiple venues across Vancouver · June 19 – July 5
41st annual festival with 300+ concerts across the city. Many free outdoor performances on Granville Island and at the Vancouver Art Gallery plaza. One of the largest music festivals in BC.

Sunday June 21
Father’s Day
All Day
Happy Father’s Day to all the dads out there. A good excuse to enjoy the World Cup, a summer festival, or simply a great meal this weekend.