July Sales Down 10%: Did Vancouver's Summer Rally Just Fizzle?

Greater Vancouver Realtors reported 2,061 home sales in July 2026, a 9.8% drop from the same month last year and a sharp reversal from June's summer kickoff gains. The figure sits 18.6% below the 10-year seasonal average, according to data released August 5. Chief economist Andrew Lis characterized the pattern as "one step forward, one step back"—a rhythm that has defined the region's market for several years now. The composite benchmark price for all residential property types fell to $1,088,800, down 6.2% from July 2025 and 0.9% from June 2026.

New listings totaled 4,991 in July, down 11.5% year-over-year but matching the 10-year average. Total active inventory declined 4% annually to 16,476 homes—still 26.8% above the long-term average. This supply-demand dynamic suggests buyers retain negotiating leverage despite the seasonal listing slowdown. The June-to-July reversal is particularly notable because it interrupts what some agents had interpreted as early signs of renewed buyer confidence following spring's tentative stabilization.