April MLS data shows a second consecutive year-over-year dip in sales volume, with prices holding just above flat
British Columbia recorded 6,311 residential unit sales across MLS Systems in April 2026. That's down 1.9% from the same month a year earlier, as a softening labour market, trade uncertainty, and upward rate pressure continued to keep prospective buyers on the sidelines.
The province's average price edged up just 0.8% year-over-year to $952,768, while total dollar volume slipped 1.1% to $6.01 billion.
Unit sales remain 25.38% below the ten-year average for April, underlining the depth of the demand gap brokers have been navigating.
Macro pressures continue to weigh on buyers
British Columbia Real Estate Association (BCREA) chief economist Brendon Ogmundson pointed to a convergence of headwinds suppressing market activity.
"Challenges in the local economy and labour market, combined with upward pressure on rates due to the ongoing oil supply shock, are continuing to suppress pent-up demand and weaken overall market activity," Ogmundson said.
For brokers working with clients on the fence, the economist's commentary reinforces what many have observed at the ground level: affordability conditions may be improving modestly, but buyer confidence remains fragile.
Rate uncertainty continues to be one of the most commonly cited reasons prospective purchasers are delaying entry into the market.
Year-to-date figures amplify the caution. BC residential dollar volume sits at $18.7 billion for the first four months of 2026, down 9.5% from the same period in 2025.
Unit sales have fallen 7.6% year-over-year to 20,059, and the average price has slipped 2% to $932,492 over that stretch.
Read more: BC housing sales slide again as buyers wait for calm
Regional divergence offers a more textured picture
Beneath the provincial headline, regional performance varied considerably.
Fraser Valley was a notable outperformer, recording 1,045 unit sales in April — a 7.6% year-over-year increase — even as the average price edged down 0.5% to $1,003,205.
Victoria also saw a modest lift, with unit sales up 2.3% to 620, while prices dipped 1.6% to $1,043,987.
Greater Vancouver, the province's largest market, saw 2,110 sales, down 1.8%. The average price held near flat at $1,209,774, off just 0.4%.
The Okanagan delivered a different kind of story: prices rose 5.2% to $799,179, though unit sales dipped slightly by 1%.
Meanwhile, Chilliwack recorded the steepest price decline among major boards at -4.3% to $785,268, while unit sales fell 17.5%.
South Peace River and Powell River both saw unit sales drop more than 29%, though their smaller volumes mean those figures are more volatile.
BC Northern stood out as a relative outlier, with the average price rising 6.7% to $467,869, making it the strongest year-over-year price performer in the province, even as sales there fell 6.3%.
Read more: BC home sales to decline in 2026, rebound next year: BCREA
Stabilisation signals, but no clear turning point yet
Despite the soft figures, Ogmundson suggested the data could reflect the early contours of a floor forming in the market.
"However, modest monthly gains (seasonally adjusted) in some regions hopefully depict the beginning of a broader stabilisation in housing activity, underpinned by improved affordability conditions that should encourage prospective buyers to enter the market."
For brokers advising clients watching from the sidelines, the case for engagement is becoming more nuanced.
Improved affordability relative to peak conditions, combined with a growing pipeline of pent-up demand, may ultimately support a gradual recovery — provided rate pressure and economic uncertainty do not intensify further.
The oil supply shock flagged by Ogmundson adds an unusual dimension to the current cycle. If sustained, it could keep variable-rate borrowing costs elevated and dampen the kind of consumer sentiment shift typically required to unlock a sustained upturn in activity.
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