Sales Struggle Against a Weak Economy and Rising Mortgage Rates.
Vancouver, BC – June 11, 2026.
The British Columbia Real Estate Association (BCREA) reports that 6,790 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in May 2026, down 2 per cent from May 2025. The average MLS® residential price in BC in May 2026 was down 1.4 per cent at $945,878 compared to $959,216 in May 2025.
Total MLS® residential sales dollar volume was $6.42 billion, down 3.4 per cent from the same time the previous year. BC MLS® unit sales were 26.39 per cent lower than the ten-year average for the month of May.
“Rising mortgage rates and a weak labour market continue to constrain activity around the province but especially in the Lower Mainland,” said BCREA Chief Economist Brendon Ogmundson. “The recent rise in mortgage rates presents an unexpected headwind for the market this year and may further delay a recovery in activity.”
Year-to-date, BC residential sales dollar volume is down 8 per cent to $25.1 billion, compared with the same period in 2025. Residential unit sales are down 6.9 per cent year-over-year at 26,681 units, while the average MLS® residential price is also down 1.2 per cent to $941,883.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.