February 12, 2026
RED FM News Desk
British Columbia’s housing market recorded a significant downturn this January compared to the same period last year, according to a recent report. The provincial real estate sector is facing a cooling period as sales figures hit near-decade lows.
According to data released Wednesday by the British Columbia Real Estate Association (BCREA), only 3,314 residential units were sold this January. This represents a steep 22.9 per cent decline from the 4,221 units sold in January 2025. BCREA Chief Economist Brendon Ogmundson noted that the start of 2026 represents the second-weakest January for the province since 2016.
The report also highlighted a dip in property values. The average residential price in B.C. decreased by 1.9 per cent year-over-year, moving from $942,384 down to $924,239. On a provincial scale, sales were approximately 30 per cent below the ten-year average, with the Greater Vancouver region seeing the most significant gap in activity.
While demand has cooled, inventory levels are on the rise. Despite the drop in sales, the number of active listings in the province increased from 30,896 units last January to 32,626 units this year. This shift suggests that while more homes are available, buyers remain hesitant in the current economic climate.
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