Vancouver home sales fell 10.2% in October as benchmark price slid to C$1,068,600

Greater Vancouver REALTORS reported on November 4 that residential sales registered on the MLS in Metro Vancouver totalled 2,024 in October 2026, down 10.2% from 2,255 in October 2025 and 22.5% below the 10-year seasonal average of 2,612. New listings totalled 4,805, down 11.6% from a year earlier, while total active inventory dipped 4.3% from September to 15,688, still above its long-term level.

Prices: benchmark down 5.2% year over year, apartments hit hardest

The MLS Home Price Index composite benchmark price for all residential property types stood at C$1,068,600, down 5.2% from October 2025 and 0.7% from September 2026. Detached-home sales reached 643, down 7.2% year over year, while apartment sales fell 16.7% to 892, the main drag on total sales.

The board's explanation: a rate hike and an election kept buyers and sellers on the sidelines

Andrew Lis, the board's chief economist and vice-president of data analytics, said October came with suspenseful distractions for buyers and sellers alike, including a somewhat surprising Bank of Canada rate hike and a snap provincial election, and many chose to pause. He also noted some buyers may move soon to use rate holds before they expire. The Bank of Canada raised its policy rate by 25 basis points to 2.5% on October 28, its first increase since July 2023.

(Sources: Greater Vancouver REALTORS October 2026 MLS housing market report, released November 4, 2026; Canadian Mortgage Trends and Mortgage Professional America coverage. Cover photo is a file photo of a residential street.)