British Columbia's Realtors say home sales in the province in August came in lower than expected, essentially staying flat compared to the same time last year.
The B.C. Real Estate Association says residential sales reached more than 5,900 units last month, a 0.5 per cent increase from August 2024 and down more than 24 per cent from the month's 10-year average.
Meanwhile, the average home price in B.C. on the Multiple Listing Service fell 1.4 per cent to just over $926,000.
Association chief economist Brendon Ogmundson says in a statement that while the summer was finishing with sales "on a lower note than expected," Realtors are seeing encouraging signs for improvement in the second half of 2025.
Ogmundson says the Lower Mainland is lagging the rest of the province, with unit sales in August seeing the biggest gap from the long-term average for that month.
The total value of home sales in B.C. last month reached $5.5 billion, down 0.9 per cent from August 2024.
Picture Courtesy: THE CANADIAN PRESS/Darryl Dyck
