VANCOUVER, British Columbia’s housing market weakened in July, with a softer Lower Mainland weighing on residential sales across the province as both transaction volumes and average prices declined from a year earlier.
The British Columbia Real Estate Association reported 6,561 residential property sales through the Multiple Listing Service last month, representing a 6.7 per cent decrease compared with July 2025.
The average sales price also edged lower, falling 1.3 per cent to just under $930,000, compared with approximately $942,000 a year earlier.
Despite the year-over-year decline, association chief economist Brendon Ogmundson said most areas of the province recorded an increase in seasonally adjusted sales activity compared with June. The Lower Mainland, including Metro Vancouver, was a notable exception.
Ogmundson said there is hope that B.C.’s housing market can move toward a recovery over the coming year by “converging to long-term averages.” He pointed to a recovery in the labour market and what he described as “resilience in the economy” as factors supporting that outlook.
The Lower Mainland continued to show some of the sharpest declines. Greater Vancouver home sales fell by more than nine per cent year over year in July, reaching just over 2,000 units.
Elsewhere, Chilliwack recorded a 14 per cent drop in sales, while other Fraser Valley markets experienced declines of about seven per cent.
