Greater Vancouver's real estate market is experiencing a paradox where home prices are rising despite low buyer demand. In March, the benchmark price for a typical home increased by 0.5% to $1,190,900, even as sales dropped 13.4% year-over-year, marking one of the weakest months in decades. New listings surged by 29%, leading to a significant oversupply. The sales-to-new-listings ratio was only 32%, indicating a market imbalance. Despite low mortgage rates and ample inventory, buyer activity remains subdued, leaving the market in a perplexing state.