BC Home Sales Remain Below Average
Home sales in British Columbia remain 33% below the ten-year average reported. Ongoing struggles are expected due to affordability and inventory constraints indicated. Market analysts are focused on regional dynamics, with BC positioned as an early indicator for national recovery suggested.
BC's housing market woes continue into February 2026, with sales down 9.7% year-over-year, and about one-third below the 10-year February average. The average provincial MLS price also dipped 2.9% to $932,243. This extends a period of prolonged weakness, with sales trapped in a low-volume environment since mortgage rate hikes in 2021. Greater Vancouver's real estate market is particularly affected, with sales dropping 8.8% from last year. Detached home prices are expected to drop 5% from Q4 2025 to Q4 2026, while condo prices are expected to decline 3% during the same period. This is in line with a broader trend of declining prices in the Lower Mainland. Despite the overall slump, some regions are experiencing different trends. Northern BC saw a 9.3% year-over-year increase in average price, while Chilliwack saw a 12.9% increase. However, even in these areas, sales-to-active listings ratios suggest a shift towards buyers' markets. Experts suggest that improved affordability and stable interest rates could motivate demand and drive stronger sales activity later in the year. However, they also acknowledge that low population growth, economic uncertainty, and excess inventory continue to weigh on buyer confidence. New construction activity is also projected to decline through 2028.
