{"id":27898,"date":"2026-06-15T10:10:23","date_gmt":"2026-06-15T17:10:23","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=27898"},"modified":"2026-06-15T08:51:31","modified_gmt":"2026-06-15T15:51:31","slug":"bcrea-weak-economy-rising-mortgage-rates-continue-to-constrain-housing-market-activity","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/06\/bcrea-weak-economy-rising-mortgage-rates-continue-to-constrain-housing-market-activity\/","title":{"rendered":"BCREA Weak Economy &#038; Rising Mortgage Rates Continue to Constrain Housing Market Activity"},"content":{"rendered":"<p style=\"text-align: justify;\">Vancouver, BC \u2013 June 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,790 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) Systems in May 2026, down 2% from May 2025. The average MLS\u00ae residential price in BC in May 2026 was down 1.4% at $945,878 compared to $959,216 in May 2025.<\/p>\n<p style=\"text-align: justify;\">Total MLS\u00ae residential sales dollar volume was $6.42 billion, down 3.4% from the same time the previous year. BC MLS\u00ae unit sales were 26.39% lower than the ten-year average for the month of May.<\/p>\n<p style=\"text-align: justify;\">\u201cRising mortgage rates and a weak labour market continue to constrain activity around the province but especially in the Lower Mainland,\u201d said BCREA Chief Economist Brendon Ogmundson. \u201cThe recent rise in mortgage rates presents an unexpected headwind for the market this year and may further delay a recovery in activity.\u201d<\/p>\n<p style=\"text-align: justify;\">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% year-over-year at 26,681 units, while the average MLS\u00ae residential price is also down 1.2% to $941,883.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bcrea.bc.ca\/wp-content\/uploads\/2026-05.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> for the complete statistics release, including detailed statistics.<\/p>\n<p><a href=\"https:\/\/www.bcrea.bc.ca\/economics\/sales-struggle-against-a-weak-economy-and-rising-mortgage-rates\/\" target=\"_blank\" rel=\"noopener\">Sales Struggle Against a Weak Economy and Rising Mortgage Rates<\/a> by Brendon Ogmundson | Chief Economist | BCREA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC \u2013 June 11, 2026. The British Columbia Real Estate Association (BCREA) reports that 6,790 residential unit sales were recorded in Multiple Listing Service\u00ae (MLS\u00ae) Systems in May 2026, &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/06\/bcrea-weak-economy-rising-mortgage-rates-continue-to-constrain-housing-market-activity\/\">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-27898","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 v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BCREA Weak Economy &amp; Rising Mortgage Rates Continue to Constrain Housing Market Activity &#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\/06\/bcrea-weak-economy-rising-mortgage-rates-continue-to-constrain-housing-market-activity\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BCREA Weak Economy &amp; Rising Mortgage Rates Continue to Constrain Housing Market Activity &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Vancouver, BC \u2013 June 11, 2026. 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