Home Sales Remain Slow Amidst Very Challenging Economic Environment

The British Columbia Real Estate Association (BCREA) reports that 5,766 residential unit sales were recorded in Multiple Listing Service^® (MLS^®) Systems in March 2026, down 3.6 per cent from March 2025. The average MLS^® residential price in BC in March 2026 was down 2 per cent at $939,846 compared to $959,236 in March 2025.

Total MLS^® residential sales dollar volume was $4.21 billion, down 5.6 per cent from the same time the previous year. BC MLS^® unit sales were 34.53 per cent lower than the ten-year average for the month of March.

“Global conflict leading to rising mortgage rates paired with a sluggish economy are presenting a challenge for a housing market recovery,” said BCREA Chief Economist Brendon Ogmundson. “Improved affordability and pent-up demand should translate to an acceleration of activity, though the market will need a period of relative calm for households to build confidence.”

Year-to-date, BC residential sales dollar volume is down 13 per cent to $12.7 billion, compared with the same period in 2025. Residential unit sales are down 11 per cent year-over-year at 13,595 units, while the average MLS^® residential price is also down 2.2 per cent to $933,859.