B.C. sees sales slump despite home prices dropping
Despite affordability and supply continuing to improve, potential B.C. homebuyers are remaining cautious, seemingly reluctant to pull the trigger.
Both the Fraser Valley Real Estate Board (FVREB) and Greater Vancouver Realtors (GVR) showed slowing sales.
GVR, which covers Metro Vancouver areas, said in July 2026, there was a 9.8 per cent decrease compared to 2025, or a drop of 225 total home sales. It suggested Metro Vancouver home sales lost “brief momentum” with July sales erasing gains the region saw in June.
“This was 18.6 per cent below the 10-year seasonal average (2,532),” GVR said, adding that apartment sales led the drop.
“Last month, we reported gains in home sales across all home types, raising the question of whether demand would continue to build into the summer. Instead, July sales were down nearly ten per cent, led by an 18 per cent drop in apartment sales, confirming to market watchers that the June momentum was not sustained,” Andrew Lis, GVR chief economist and vice-president data analytics, said.
In Greater Vancouver, all home types saw benchmark prices come down:
- Single-family detached home prices decreased from $1,824,900 in June 2026 to $1,822,900 in July 2026.
- Townhome prices decreased from $$1,046,200 in June 2026 to $1,030,400 in July 2026.
- Apartment prices decreased from $695,200 in June 2026 to $688,000 in July 2026.
GVR
Similar numbers in the Fraser Valley
FVREB said July 2026 saw a five per cent decrease compared to June 2026 and a nine per cent decrease compared to July 2025.
“Buyer urgency has been notably absent from the Fraser Valley market for some time now,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board, in a statement.
“With inventory remaining high and competition subdued, buyers know they don’t have to rush. They can take their time evaluating their options, knowing they can return to a market that continues to offer plenty of choice,” Ismail said.
The FVREB says that the Fraser Valley remains a buyer’s market with a sales-to-active listings ratio of 11 per cent in July.
“Economic uncertainty continues to influence buying decisions, but the Fraser Valley has remained one of the Lower Mainland’s brightest spots for improving affordability,” said Anthony Boone, interim CEO of the Fraser Valley Real Estate Board, in a release.
“As home prices continue to ease, qualified buyers are finding opportunities that simply weren’t available a few years ago, particularly those looking to enter the market or downsize,” Boone said.
In the Fraser Valley, all home types saw benchmark prices come down:
- Single-family detached home prices decreased 8.3 per cent compared to July 2025 to $1,335,200
- Townhome prices decreased 7.1 per cent compared to July 2025 to $757,300
- Apartment prices decreased 9.1 per cent compared to July 2025 to $469,500
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