{"id":26845,"date":"2025-12-03T11:11:29","date_gmt":"2025-12-03T19:11:29","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=26845"},"modified":"2025-11-25T16:21:08","modified_gmt":"2025-11-26T00:21:08","slug":"homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2025\/12\/homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers\/","title":{"rendered":"Homes aren&#8217;t Selling for What They Used To &#8211; Causing Problems for Move-Up Buyers"},"content":{"rendered":"<p style=\"text-align: justify;\">First-time homebuyers may not be rushing off the sidelines across some of Canada\u2019s priciest housing markets, but their chances of purchasing a home are improving \u2013 slightly \u2013 as prices tick lower.<\/p>\n<p style=\"text-align: justify;\">The buyer cohort facing a real headache in the current market, instead, may be move-up buyers: those who are trying to make the leap to a bigger property but find themselves unable to shift their current home in a frozen housing market.<\/p>\n<p style=\"text-align: justify;\">That\u2019s partly because some hopeful sellers haven\u2019t adjusted their mindset since the COVID-19 pandemic, according to Vancouver-based mortgage planner Sharon Davis (pictured top) of DLC Producers West Financial, and are still holding out hope that they\u2019ll be able to get top dollar for their home.<\/p>\n<p style=\"text-align: justify;\">\u201cIt takes a while for those people to have that mind shift: \u2018If I sell low, I\u2019m going to buy low,\u2019\u201d Davis told Canadian Mortgage Professional. \u201cEverybody wants to sell high and buy low, but it doesn\u2019t necessarily work that way.<\/p>\n<p style=\"text-align: justify;\">\u201cSelling low \u2013 even if you take a little bit of a loss \u2013 but buying low is a better spread versus selling high and buying high because [then] you\u2019re going to pay more property and transfer tax. You\u2019re paying more everything.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Vancouver Housing Market Continues to Cool<\/strong><\/p>\n<p style=\"text-align: justify;\">October sales in Vancouver slipped 14.5% below the 10-year seasonal average, according to Greater Vancouver Realtors (GVA), with active inventory swelling: property listings soared 35.9% above the seasonal average for the decade, and were up 13.2% compared with the same time last year.<\/p>\n<p style=\"text-align: justify;\">That\u2019s a stark contrast from the boom years in the early pandemic, when purchase activity and prices soared as buyers rushed to take advantage of low interest rates and a mountain of extra savings.<\/p>\n<p style=\"text-align: justify;\">A series of interest rate hikes by the Bank of Canada in 2022 and 2023 helped tap the brakes on that frenzy \u2013 and some homeowners who purchased during the pandemic but now want to sell still haven\u2019t come to terms with the reality of the current market, Davis said.<\/p>\n<p style=\"text-align: justify;\">\u201cA lot of people that are wanting to make that move bought in post-COVID or around COVID times \u2013 and so they paid a lot for those properties, and they don\u2019t want to let that go for less than they paid for it,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">\u201cThey\u2019re not going to get that price \u2013 but also, that house that they want is probably $100,000 less than they could have bought it for back in COVID times. I think you just need to reset the mentality.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Don&#8217;t Expect Prices to Rebound Sharply Soon<\/strong><\/p>\n<p style=\"text-align: justify;\">Sellers hoping to ride out the current turbulence until prices start to climb again could be waiting for a while.<\/p>\n<p style=\"text-align: justify;\">The Canadian Real Estate Association (CREA) said in its resale housing market forecast for 2026, updated in October, that it expects resale prices across British Columbia to slip by 3.1% this year, recovering only by 1.8% throughout 2026.<\/p>\n<p style=\"text-align: justify;\">That\u2019s despite a possible big jump in activity during the same period. After a projected 4.1% drop in sales this year, CREA expects a rebound in 2026 \u2013 to 80,342, a yearly increase of 12.6%.<\/p>\n<p style=\"text-align: justify;\">For sellers, that means even a heating-up of homebuying activity likely won\u2019t spur a huge jump in price appreciation this year and next.<\/p>\n<p style=\"text-align: justify;\">Still, Davis said there remain opportunities for those who want to move on to another property, even if it means selling at a loss for now.<\/p>\n<p style=\"text-align: justify;\">\u201cI think you just need to reset that mentality,\u201d she said. \u201cWhen you\u2019re talking tens of thousands or a hundred thousand dollars, it\u2019s a lot of money to swallow just by not getting what you want.<\/p>\n<p style=\"text-align: justify;\">\u201cBut again, it\u2019s a timing thing. Especially if you\u2019re younger and you have years to go, if you\u2019re going to make that move to a townhome or from a townhome to a house, you can make that. Again, it\u2019s all about the spread.\u201d<\/p>\n<p><a href=\"https:\/\/www.mpamag.com\/ca\/mortgage-industry\/industry-trends\/move-up-buyers-in-limbo-as-housing-market-remains-stalled\/557835\" target=\"_blank\" rel=\"noopener\">Move-Up Buyers in Limbo as Housing Market Remains Stalled<\/a> by Fergal McAlinden | CMP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>First-time homebuyers may not be rushing off the sidelines across some of Canada\u2019s priciest housing markets, but their chances of purchasing a home are improving \u2013 slightly \u2013 as prices &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2025\/12\/homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,13],"tags":[],"class_list":["post-26845","post","type-post","status-publish","format-standard","hentry","category-homeselling-homebuying","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Homes aren&#039;t Selling for What They Used To - Causing Problems for Move-Up Buyers &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2025\/12\/homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Homes aren&#039;t Selling for What They Used To - Causing Problems for Move-Up Buyers &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"First-time homebuyers may not be rushing off the sidelines across some of Canada\u2019s priciest housing markets, but their chances of purchasing a home are improving \u2013 slightly \u2013 as prices &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2025\\\/12\\\/homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2025\\\/12\\\/homes-arent-selling-for-what-they-used-to-causing-problems-for-move-up-buyers\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Homes aren&#8217;t Selling for What They Used To &#8211; 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