B.C. housing market “continues to struggle,” says real estate group
British Columbia’s housing market is in a deep slump, with the B.C. Real Estate Association confirming sales are down across the entire province.
British Columbia’s housing market is in a deep slump, with the B.C. Real Estate Association confirming sales are down across the entire province.
In February, just over 4,500 residential units sold provincewide, a nearly 10 per cent drop compared to the same time last year.
“Housing market activity continues to struggle, with sales declining from every region in the province compared to the same time last year,” said BCREA Chief Economist Brendon Ogmundson on Thursday.
B.C. residential sales dollar volume is down 17.8 per cent to $7.3 billion year-to-date compared with the same period in 2025, according to a BCREA report.
Residential unit sales also fell 15.8 per cent year-over-year to 7,832 units, while the average Multiple Listing Service residential price dropped 2.4 per cent to $929,323.
Powell River saw the largest drop in sales, falling 35 per cent compared to the same time last year.
Chilliwack followed closely, experiencing a nearly 35 per cent drop over the same period, followed by the Kootenays at 29 per cent.
Meanwhile, Greater Vancouver experienced just over 1,600 unit sales last month, marking an almost 9 per cent drop from last year.
“We hope that improved affordability conditions in most regions and stable rates will motivate prospective demand to enter the market and drive stronger sales activity over the rest of the year,” said Ogmundson.