B.C. home sales and prices both down about 6% last month, amid Lower Mainland slump

VANCOUVER — British Columbia home sales fell by almost 6 per cent last month on a year-over-year basis, with realtors noting market weakness “concentrated” in the Lower Mainland.

The B.C. Real Estate Association says a total of 4,271 residential units were sold in December, which is about 18.5 per cent lower than the province’s 10-year average for the month, while average prices also fell 5.6 per cent to about $952,000 from just over $1 million in the same month in 2024.

The value of overall home sales was also down 14.5 per cent to about $4.1 billion from December 2024.

The association says Greater Vancouver saw 1,527 homes sold in December 2025, down 12.5 per cent from the previous year — the largest drop reported among regions in B.C.

Victoria saw a 10.6 per cent drop with 346 homes sold in the last month, while the Okanagan saw a 7.7 per cent gain with 476 residential transactions.

Association chief economist Brendon Ogmundson says in a statement that sales across B.C. are “recovering at different rates” from the economic uncertainty due to U.S. tariffs, and realtors are hopeful for more stability in 2026 to strengthen demand.

This report by The Canadian Press was first published Jan. 13, 2026.