Home sales in the Vancouver region dropped 4.6 per cent last month compared with a year ago, continuing a lag since May that is expected to persist through the end of 2026.
Greater Vancouver Realtors says there were 1,869 home sales last month, which was 20.7 per cent below the 10-year seasonal average.
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Andrew Lis, the board’s chief economist and vice-president of data analytics, says inventory levels have receded from their 2025 heights, and paired with slower-than-usual sales, this has caused prices “to drift downwards across all market segments.”
The composite benchmark price for all types of residential properties in Vancouver was $1,081,900, a 5.6 per cent decline from August 2025 and a 0.6 per cent dip from July 2026.
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There were 4,100 new listings on the market last month, down three per cent year-over-year and 1.3 per cent lower than the 10-year average.
Meanwhile, total inventory fell 2.7 per cent annually to 15,798, which was 26.2 per cent above the long-term average.
NEVER WOULD HAVE GUESSED THIS NEWS, THANKS GLOBAL. WHAT WOULD WE DO WITHOUT YOU ???
Inflated prices across the board for housing and everything else. When people are already struggling to afford necessities (food, etc), how does a bank expect them to come up with a massive down payment and make the large monthly payments.