VANCOUVER — British Columbia recorded 5,670 home sales last month, a drop of almost 11 per cent from October last year. The B.C. Real Estate Association says in a statement that the average sale price of a home in the province this October fell about 2.8 per cent from about $977,000 last year to just short of $950,000. The latest numbers come after the association released its fourth quarter forecast this week, projecting that B.C. home sales would slide 4.5 per cent this year from 2025 to about 67,000 units. Association chief economist Brendon Ogmundson cites mounting market challenges from interest rates, slower immigration, oil-price shock and U.S. trade tensions, potentially contributing to the decline in the latest monthly numbers. Ogmundson says more-affordable areas of the province have been resilient, with Kamloops seeing a 12 per cent rise in home sales last month. But he says Metro Vancouver and the rest of the Lower Mainland continue to be hampered by “global headwinds and hawkish monetary policy,” with Greater Vancouver sales falling 10 per cent to just over 2,000 units sold in October. “Recoveries in more-expensive regions of the province are dependent on a retracing of rates and oil prices such that prospective buyers regain confidence after several volatile quarters,” Ogmundson says in the statement. This report by The Canadian Press was first published Nov. 12, 2026.
