THE British Columbia Real Estate Association (BCREA) released its 2026 Third Quarter Housing Forecast Update on Thursday.
Multiple Listing Service (MLS) residential sales in BC are forecast to fall 1.2 per cent to 69,325 units this year. In 2027, MLS residential sales are forecast to move higher, rising 7.5 per cent to 74,500 units.
“A long-awaited recovery in the British Columbia housing market appears to be underway as we enter the second half of 2026, but will be slow and gradual and continues to be challenged by persistent geopolitical volatility,” said BCREA Chief Economist Brendon Ogmundson. “Ultimately, an expected pick-up in the provincial economy over the next year provides cause for optimism that sales activity will improve in 2027.”
He said that with active listings near their highest level since 2015, and additional pressure from elevated new-home inventory, he anticipates the average price in BC will fall by 1.2 per cent in 2026 to $941,800, down from $952,767 in 2025. This decrease largely reflects disproportionate weakness in more expensive markets in the Lower Mainland, casting downward pressure on the broader provincial average price.
