B.C. home sales fall nine per cent in September amid interest rate speculation

VANCOUVER - British Columbia's home sales declined once more in September, with the province's real estate board attributing the dip to speculation surrounding potential interest rate hikes. According to the British Columbia Real Estate Association, approximately 5,250 homes were sold in the province that month, marking a 9% decrease compared to the same period in 2025.

The sales volume for residential transactions in B.C. amounted to $4.9 billion, a 11% drop from the previous year. The average price on the Multiple Listing Service fell by 2.4% to just over $924,000. Brendon Ogmundson, the association's chief economist, noted that the declines follow an "encouraging summer" of recovery, but rising oil prices have sparked speculation about the Bank of Canada raising interest rates.

So far in 2026, about 51,000 homes have been sold in B.C., representing a 6% decline compared to the same period in 2025, with sales in every region falling year-over-year except South Peace River and the Kootenays.