Despite falling prices, BC needs more homes to boost affordability

House prices in British Columbia fell 9.1% from 2022 to 2025 but remain 35.7% higher than in 2019, posing affordability challenges. Homebuilding dropped 4.7% in 2025 due to restrictive government policies, zoning rules favoring single-family homes, lengthy municipal approvals, and high charges on new units. These factors hinder construction and keep prices high. Easing restrictions and reducing costs could boost housing supply and affordability.