VANCOUVER — British Columbia home sales fell again in August on a year-to-year basis, although the real estate industry says a “gradual recovery” is underway.
The British Columbia Real Estate Association says there were 5,653 residential property sales last month on the Multiple Listing Service, a 4.7 per cent decrease from the same month last year.
The average home price in the province also fell to just under $925,000 from the same period last year.Â
Association chief economist Brendon Ogmundson says in a statement that home sales in B.C. have been steadily climbing since January when they dropped below 5,200, although they “remain well below long-term averages.”
Ogmundson says the association expects the recovery to continue, however there is industry concern about the impacts of new U.S. tariffs and a recent increase in long-term interest rates.
The Okanagan region saw the largest decline in home sales last month with a 22 per cent drop from August 2025, while the South Peace River region in the northeast recorded a jump of almost 35 per cent.
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