A new report from the B.C. Real Estate Association predicts home sales could rise significantly in 2026 following an extended slower period – but some industry veterans are skeptical about the forecast. Brendon Ogmundson, chief economist at BCREA, said their researchers expect sales will normalize as “uncertainty fades.” Tariffs are one of the key reasons the residential housing market is struggling, according to Ogmundson, who said the trade war has caused some apprehension among both buyers and sellers. The BCREA report said residential sales in B.C. are currently “forecast to fall 2.2 cent, to 72,840 units this year,” before “rising 10.7 per cent, to 80,600 units” in 2026. The BCREA also expects prices to “stabilize over the next year, and maybe grow one or two per cent in 2026,” Ogmundson said. Not everyone is convinced. Realtor Lorne Goldman, of Macdonald Realty, isn’t so sure about a rebound next year, noting that RBC’s Housing Market Forecast painted a different picture. “We anticipate prices will decline in the latter half of 2025 and into 2026 with Ontario and B.C. experiencing the steepest drops due to high inventory levels and strong competition among sellers,” it reads. “Nationally, prices are expected to decline by 0.7 per cent in 2026, reversing this year’s modest increase.” Goldman said the market will bounce back in Vancouver eventually – the question is when.
