BC Real Estate Market Shows Signs of Steady Progress

Home sales in British Columbia fell 2% in May, with average prices dropping 1.4% to $945,878, as rising mortgage rates and affordability challenges keep buyers sidelined. Total sales volume declined 3.4% year over year. While BC and Ontario markets struggle, other Canadian regions show better performance. Vancouver shows early recovery signs with increased transactions and tightening inventory, but home prices are expected to continue declining.