{"id":27801,"date":"2026-05-27T11:11:14","date_gmt":"2026-05-27T18:11:14","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=27801"},"modified":"2026-05-27T09:25:53","modified_gmt":"2026-05-27T16:25:53","slug":"bc-housing-market-remained-sluggish-as-affordability-pressures-weighed-on-sales","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/05\/bc-housing-market-remained-sluggish-as-affordability-pressures-weighed-on-sales\/","title":{"rendered":"BC Housing Market Remained Sluggish as Affordability Pressures Weighed on Sales"},"content":{"rendered":"<p style=\"text-align: justify;\">BC\u2019s housing market remained tepid into April as sales pointing to another disappointing spring market. Seasonally adjusted home sales decreased by 1.1% in April to 5,227 units after a 0.5% drop in March. This was also the lowest monthly figure since November 2023. Year-over-year sales declined by 3.8%. Elevated economic uncertainty, weak growth and ongoing affordability pressures continue to sideline prospective buyers, with these challenges particularly acute in BC, which remains the most expensive housing market in the country.<\/p>\n<p style=\"text-align: justify;\">Driving this month\u2019s decline was a four per cent drop in sales in Metro Vancouver, while sales in Okanagan Mainline also declined by 5.4%. Home sales also fell in Vancouver Island (excluding Victoria, -3.4%), Kamloops (-5.2%), and South Okanagan (-0.7%). On the other hand, sales increased in Chilliwack (+6.3%), Victoria (+1.2%), the Kootenay (+10.9%), and Northern BC (+3.7%).<\/p>\n<p style=\"text-align: justify;\">That said, year-to-date sales fell across all markets. Overall, BC home sales fell by 8.4% in the first four months of the year, compared to same period in 2025. Contributing to this was a significant decline in Chilliwack during the period by 25.8%, the Kootenay by 11.9% and Metro Vancouver by 9.4%, as well as decreases in other markets.<\/p>\n<p style=\"text-align: justify;\">Surprisingly, home prices were back on the rise in March as the provincial average price increased by 2.1% to $939,400, and down from its peak in February 2022 by 12.8%. This was also the first monthly increase since October 2025. Price increases were recorded in Metro Vancouver (+1.2%), the Okanagan Mainline (+5.2%), among other regions, while Victoria (-0.7%) and Kamloops (-2.7%) saw declines. That said, geographic and product sales compositions can swing monthly patterns. Quality-adjusted benchmark prices, which give a clearer picture of the underlying trend declined in April by 0.4%, continuing a steady decline since early 2025.<\/p>\n<p style=\"text-align: justify;\">Weak housing market conditions are likely to progress in the near term given the shaky geopolitical climate, sluggish economic growth and weak labour market conditions. A modest recovery later in the year is possible if conditions improve alongside ameliorating affordability.<\/p>\n<p style=\"text-align: justify;\">On the manufacturing front, sales in BC rose marginally in March. On a seasonally adjusted basis, manufacturing sales in the province increased by 0.7% to just under $5.7 billion. The rise was driven by a 1.4% increase in sales from durable goods industries to $3.1 billion. Non-durable goods sales, however, were unchanged month-over-month at around $2.5 billion. So far this year, manufacturing sales have been stronger than last year. Over the first three months of the year, monthly sales averaged just above $5.6 billion, compared to an average of $5.3 billion in 2025. Year-to-date unadjusted sales are up 5.3% compared to the same period last year.<\/p>\n<p style=\"text-align: justify;\">Within the durable goods sector, the transportation equipment manufacturing subsector rose 16.7% to a seasonally adjusted $353 million, the highest level since March 2025. Over the previous 11 months, sales averaged around $285 million. Primary metal manufacturing also increased, rising 4.8% to $601 million, but commodity prices have lifted sales. This marked the fourth consecutive monthly increase and a record high for the subsector.<\/p>\n<p style=\"text-align: justify;\">Fabricated metal products manufacturing also rose, increasing 8.4% in March. Partially offsetting these gains was a 25.6% decline in non-metallic mineral product manufacturing sales, which fell to $163 million. This was the lowest monthly level since October 2021, when sales were $162 million. Average sales over the previous 12 months were $208 million.<\/p>\n<p style=\"text-align: justify;\">Wood product manufacturing also declined for the third consecutive month, falling 2.4% to $728 million. This represents the lowest level since May 2020, when sales were $623 million. Year to date, durable goods sales are up 2.6%.<\/p>\n<p style=\"text-align: justify;\">Data for most subsectors in the non-durable goods category are suppressed for confidentiality reasons. However, seasonally adjusted food manufacturing sales rose 3.0% in March to just under $1.1 billion, while paper manufacturing sales fell 12.7% to $318 million. Year-to-date unadjusted non-durable goods sales have grown by 8.9% compared to the same period in 2025.<\/p>\n<p style=\"text-align: justify;\">In the Metro Vancouver area, seasonally adjusted manufacturing sales fell by 1.1% in March, following an increase of 2.7% in February. Average monthly sales so far this year are above $3.2 billion, compared to 2025, when manufacturing sales averaged just under $3 billion.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/commentary\/bryan-yu-bc-economy-sends-mixed-signals-as-housing-weakens-while-manufacturing-rises-12332749\" target=\"_blank\" rel=\"noopener\">BC Economy Sends Mixed Signals as Housing Weakens While Manufacturing Rises<\/a> by Bryan Yu | Chief Economist | Central 1 | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BC\u2019s housing market remained tepid into April as sales pointing to another disappointing spring market. Seasonally adjusted home sales decreased by 1.1% in April to 5,227 units after a 0.5% &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/05\/bc-housing-market-remained-sluggish-as-affordability-pressures-weighed-on-sales\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,13],"tags":[],"class_list":["post-27801","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BC Housing Market Remained Sluggish as Affordability Pressures Weighed on Sales &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2026\/05\/bc-housing-market-remained-sluggish-as-affordability-pressures-weighed-on-sales\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BC Housing Market Remained Sluggish as Affordability Pressures Weighed on Sales &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"BC\u2019s housing market remained tepid into April as sales pointing to another disappointing spring market. 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