Tariff worries push B.C. housing market lower amidst big sales drop
The British Columbia Real Estate Association (BCREA) has revealed the latest stats on residential housing sales in B.C., and the ongoing tariff battle with the United States has impacted the province’s housing market.
BCREA has revealed a decrease in February 2025 housing activity compared to last year.
In total, 4,947 residential housing sales were recorded in B.C. this February, which marks a 9.7 per cent decrease from February 2024.
According to the Multiple Listing Service (MLS) in B.C., the average residential price was $964,349, which is also a drop of 2.4 per cent from last year when the average price was $987,811.
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“After several months of growing momentum, market activity was hampered in February by the uncertainty surrounding tariffs,” said BCREA Chief Economist Brendon Ogmundson in a release.
“Apprehension from prospective buyers will continue amidst this unfortunate trade war but may be somewhat tempered by lower interest rates on the horizon.”
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According to the BCREA, the total sales dollar volume was $4.8 billion, an 11.8 per cent decline from last year. B.C. MLS unit sales are also 28 per cent lower than the 10-year February average.
Throughout 2025, B.C. residential sales dollar volume has dipped 4.5 per cent to $8.8 billion compared with the same period in 2024.
BCREA
Jeff Appelbe, a realtor in Vancouver, told Daily Hive Urbanized that tariff uncertainty will likely slow transaction volumes in the weeks to come.
“How much is impossible to predict,” he said. “As long as things feel uncertain or there is a ‘risk on’ feeling, people will likely slow their purchasing decisions in general.”
He’s also seeing a reduction in competition that’s already led to a win for one of his clients. This week, he helped a buyer secure a Vancouver sub-penthouse as the only group submitting an offer. If the tariff threats hadn’t happened, Appelbe would have expected at least one or two competing bids.