B.C. home sales face major headwinds in March as transactions, prices both slide

The B.C. Real Estate Association says home sales in the province were down 3.6 per cent in March compared to the same month last year.

VANCOUVER — British Columbia’s home sales trended down across the board in March in price, transactions and dollar volume in what realtors are calling a “very challenging economic environment.”

The B.C. Real Estate Association says 5,766 homes in the province were sold on the Multiple Listing Service system last month — a 3.6 per cent slide from the same period last year.

The average home price on the system for March slid two per cent to just under $940,000.

The overall dollar volume dropped 5.6 per cent to $4.21 billion.

The association says the number of home unit sales for B.C. last month was significantly lower than normal, coming in 34.5 per cent below the 10-year average.

Brendon Ogmundson, a chief economist with the association, says the situation has been challenged by “global conflict leading to rising mortgage rates paired with a sluggish economy.”

But he says he’s hopeful that improved affordability and pent-up demand could accelerate sales moving forward.

In the first three months of this year, B.C.’s home sales dollar volume was at $12.7 billion, down 13 per cent from last year. Sales and the average price were also down from 2025 levels.

This report by The Canadian Press was first published April 15, 2026.