British Columbia's home sales trended down across the board in March in price, transactions and dollar volume in what realtors are calling a "very challenging economic environment."
The B.C. Real Estate Association says 5,766 homes in the province were sold on the Multiple Listing Service system last month — a 3.6 per cent slide from the same period last year.
The average home price on the system for March slid two per cent to just under $940,000.
The overall dollar volume dropped 5.6 per cent to $4.21 billion.
The association says the number of home unit sales for B.C. last month was significantly lower than normal, coming in 34.5 per cent below the 10-year average.
Brendon Ogmundson, a chief economist with the association, says the situation has been challenged by "global conflict leading to rising mortgage rates paired with a sluggish economy."
But he says he's hopeful that improved affordability and pent-up demand could accelerate sales moving forward.
In the first three months of this year, B.C.'s home sales dollar volume was at $12.7 billion, down 13 per cent from last year. Sales and the average price were also down from 2025 levels.
Picture Courtesy: THE CANADIAN PRESS Jonathan Hayward
