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Vancouver-Area Home Sales Down 10.2% in October as Prices Slide: Board
Greater Vancouver Realtors said 2,024 sales were recorded, while the benchmark price slipped 5.2% from a year earlier.
- Home sales in the Vancouver region fell 10.2 per cent in October compared with a year ago, with Greater Vancouver Realtors reporting 2,024 sales, down 22.5 per cent below the 10-year seasonal average.
- Andrew Lis, GVR's chief economist, cited provincial and municipal election coverage combined with mortgage rate uncertainty as reasons market participants stepped back in October, following the Bank of Canada's 0.25 per cent interest rate hike.
- Benchmark prices continued to ease across the Lower Mainland, with GVR's composite benchmark price dropping 5.2 per cent to $1,068,600 since October 2025 and down 0.7 per cent from September 2026.
- Fraser Valley Real Estate Board CEO Rock Lefebvre noted price retreats brought affordability to its best level in five years, though higher borrowing costs continue to challenge buyers and potentially undermine those gains.
- A Rennie report released in October 2026 shows more than 14,000 new condominium units remained unsold across Metro Vancouver mid-year, as Lis said year-end trends will define whether the market moves forward or steps back.
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12 Articles
12 Articles
In October, both Vancouver and the Fraser Valley saw lower home sales volumes compared to the same period last year. Rising interest rates and market uncertainty led to a wait-and-see approach from both buyers and sellers. Although residential sales in the Fraser Valley rebounded month-on-month, supply remained relatively abundant in both markets, and the buyer-driven market structure remained unchanged.
·New York, United States
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Coverage Details
Total News Sources12
Leaning Left6Leaning Right0Center2Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
C 25%
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