B.C.’s housing market momentum was positive in August as it firmed following the tariff uncertainty in the spring, but conditions remained weak. Sales were 20 per cent below the pre-pandemic trend, and an underlying downward trend in home values continued. Factors, including economic weakness and trade sector uncertainty, federal migration caps, challenging affordability conditions and excess market supply continue to limit a recovery.

MLS sales in B.C. rose 2.4 per cent month over month to a seasonally adjusted 6,044 units, 5.1 per cent higher than a year ago. Nevertheless, on an unadjusted basis, this was among the fewest August sales observed over the past two decades and 19 per cent below the 15-year average for the month.

At the real estate board level, sales increased in most regions, led by a 5.6 per cent increase in Greater Vancouver, and a strong pick-up in Okanagan-area markets and Chilliwack. Victoria reported a rollback of 4.5 per cent. On a 12-month basis, growth was stronger in the interior markets, which is........

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