Home sales in the Vancouver region dropped 4.6% last month compared with a year ago, continuing a lag since May that is expected to persist through the end of 2026.

Greater Vancouver Realtors says there were 1,869 home sales last month, which was 20.7% below the 10-year seasonal average.

Andrew Lis, the board’s chief economist and vice-president of data analytics, says inventory levels have receded from their 2025 heights, and paired with slower-than-usual sales, this has caused prices “to drift downwards across all market segments.”

The composite benchmark price for all types of residential properties in Vancouver was $1,081,900, a 5.6% decline from August 2025 and a 0.6% dip from July 2026.

There were 4,100 new listings on the market last month, down three per cent year-over-year and 1.3% lower than the 10-year average.

Meanwhile, total inventory fell 2.7% annually to 15,798, which was 26.2% above the long-term average.

This article is re-posted from the Canadian Mortgage Trends website.