Despite a slight uptick in sales volume last month, the province’s real estate market continues to decline.
New figures from the BC Real Estate Association show the total number of sales in B.C. in June did increase 1.3 per cent from the same month last year and 3.1 per cent from May, but the average sale price and total value of sales are down.
The average residential sale price in June was down 4.2 per cent at $954,065, compared to $995,614 in June the previous year.
While much of the province is showing some resilience, the Lower Mainland is falling behind, with total sales down nine per cent from 2024 in the Greater Vancouver region and down 8.6 per cent in the Fraser Valley.
The association says the decline is due to increased economic uncertainty driven by U.S.-imposed tariffs.
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“Until broader uncertainties are resolved, we expect overall housing activity in the most expensive areas of the province to continue lagging behind,” said Brendon Ogmundson, BCREA chief economist.
The BCREA says data from 2025 overall shows a declining market. To date, unit sales for the year are down 7.1 per cent and prices are down 4.2 per cent.
—With files from Sonia Aslam
