BC home sales extend slide
The province-wide average listing price slipped approximately 1% year-over-year to $924,826.
Brendon Ogmundson, chief economist at the BCREA, noted that monthly activity has climbed from January, when transactions dipped below 5,200, but acknowledged that the gap with historical norms remains pronounced.
“Provincial home sales remain well below long-term averages but have been steadily improving throughout the year,” Ogmundson said.
“We expect a gradual recovery in sales to continue, though new tariffs and a recent spike in long-term interest rates add a layer of risk to that scenario.”
Regional divergence sharpens across the province
The August data revealed considerable variation across BC’s regional markets. The Okanagan posted the steepest year-over-year decline at 22%, while South Peace River in the province’s northeast surged nearly 35%, the sharpest regional gain for the month.
