Home Sales in British Columbia Experience Significant Decline in January 2026
The real estate market in British Columbia saw a notable downturn in home sales this January compared to the same period last year, as reported by the British Columbia Real Estate Association (BCREA).
According to the latest data released by BCREA, residential unit sales dropped by 22.9%, with 3,314 units sold in January 2026, down from 4,221 units in January 2025. BCREA’s chief economist, Brendon Ogmundson, noted that this marked the province’s second weakest January since 2016, with sales falling below historical averages across various regions.
In addition, the average residential price on the multiple listing service (MLS) decreased by 1.9%, from $942,384 to $924,239 compared to the previous year. The total dollar volume of residential sales also declined by 24.4% to $3.06 billion.
The report highlighted that MLS unit sales in January were around 30% lower than the ten-year average, with Greater Vancouver experiencing the most significant decrease. Despite the overall decline in sales, active listings in January increased from 30,896 units to 32,626 units compared to the previous year.
Looking ahead, BCREA remains cautiously optimistic about the province’s new home construction market, anticipating long-term demand growth. The association will closely monitor market trends in the coming years to assess the housing market’s trajectory.