B.C. home sales went through a steep decline this year compared to last January, according to a recent report. 

The British Columbia Real Estate Association (BCREA) says in a Wednesday release that 3,314 residential units were sold, which is a 22.9 per cent decline from 4,221 in January 2025. 

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“British Columbia’s housing market kicked off 2026 with its second weakest January since 2016,” said BCREA chief economist Brendon Ogmundson.

Ogmundson adds that sales in almost every region fell short of historical averages. 

The report also indicated that the average multiple listing service residential price compared to last year went down by 1.9 per cent from $942,384 to $924,239. 

The total residential sales dollar volume was $3.06 billion, which went down by 24.4 per cent from the same time last year. 

The provincial ‘Multiple Listings Service’ (MLS) unit sales in January were approximately 30 per cent lower than the ten-year average, with the Greater Vancouver area seeing the biggest gap. 

However, the real estate association said the active listings last month went up from last January’s 30,896 units to 32,626 units. 

BCREA says that the sentiments about the new home construction in the province left the housing market keen on long-term demand growth, which will be monitored during the next few years.