What the latest Royal LePage forecast means for first-time buyers and downsizers in the Fraser Valley.

Is 2026 the Year You Finally Make Your Move?

If you’ve been sitting on the sidelines watching the housing market, wondering if you’ll ever find the right moment to jump in, I have some news that might help you breathe a little easier.

According to the latest Royal LePage Market Survey Forecast, 2026 is shaping up to be a year of "reset" for Canadian real estate.

As someone who has called Abbotsford home for a lifetime and worked in this industry for 40 years, I’ve seen the cycles come and go. I’ve seen the booms that leave buyers frantic and the busts that leave sellers anxious. But a "reset"? That’s a word I like. It suggests balance, stability, and—most importantly for you—opportunity.

Here is my take on what this national forecast means specifically for us here in Abbotsford, specifically if you are looking at condos or townhomes.

The "Sweet Spot" for Strata Buyers

The headline from the report is that while single-family home prices are expected to nudge up slightly across Canada, the condominium market is forecasted to see a modest price decrease of roughly 2.5% nationally.

Furthermore, the aggregate home price in the Greater Vancouver region is expected to dip by about 3.5%. Historically, what happens in Vancouver ripples out to the Fraser Valley.

What this means for you: If you are a first-time buyer or looking to downsize into a strata property, this creates a rare window of opportunity.

• Less Competition: You likely won’t be fighting off twenty other offers on the same unit.

• Better Prices: A softening in condo prices means your down payment goes further.

• Time to Decide: In a frenzied market, you have minutes to decide. In a "reset" market, you have time to think, inspect, and breathe.

Mortgage Rates: No Longer the Villain

For the past two years, interest rates have been the big, scary barrier keeping people renting. But the tide is turning. The Bank of Canada has been winding down its rate-cutting cycle, bringing rates to a much more manageable level.

Phil Soper, the CEO of Royal LePage, put it perfectly in the report:

“Mortgage rates are no longer the villain in this story. Borrowing costs have stabilized at a level that supports healthy market activity. Buyers can move forward without worrying they are missing out on cheaper money tomorrow.”

This stability is key. It removes the guesswork. You can calculate your monthly payments today with confidence that the ground isn't going to shift beneath your feet tomorrow.

Don’s Point of View: 40 Years of "Resets"

I bought my first condo 25 years ago, and I’ve helped many people do the same since. When I hear "market reset," I hear "sanity."

For First-Time Buyers: This is your moment to get into the market without the panic. If you’ve been renting because you were waiting for prices to drop or rates to stabilize, 2026 is checking both of those boxes.

For Downsizers: You might be worried that a "cooling" market hurts your sale price. While that can be true, remember that you are also buying in that same market. If you are selling a larger detached home (which is holding value better) and buying a strata property (which is becoming more affordable), the math can actually work very strongly in your favor.

Advice for 2026

1. Don’t Wait for Rock Bottom: Trying to time the absolute bottom of the market is impossible. If you find a home that fits your life and your budget, that is the right time to buy.

2. Read the Documents: With more time on your side, we can dig deep into the Depreciation Reports and Strata Minutes. We can make sure the building you’re buying into is healthy.

3. Get Pre-Approved: Even with stable rates, knowing exactly what you can afford gives you negotiating power.

Let’s Talk About Your Move

Whether you are looking for your first place near Mill Lake or a quiet townhouse to retire in, I’m here to help you navigate this "reset" with honest advice and zero pressure.

For a free no obligation strategic conversation on your next move, book a call here on my calendar link. 

Source and Inspiration: Royal LePage Blog: A reset is in store for Canada’s housing market in 2026