Calgary and Vancouver Home Sales Decline in August 2026

Residential real estate markets in Western Canada cooled in August 2026, with both Calgary and Vancouver reporting declines in sales and benchmark prices. In Calgary, home sales dropped 16.4 percent year-over-year to 1,660 units, shifting the region toward buyer-market conditions. The residential benchmark price fell 1.1 percent to $569,800, with the most significant declines occurring in apartment-style homes, which saw prices drop 8.2 percent.

Ann-Marie Lurie, chief economist for the Calgary Real Estate Board, attributed the downturn to a combination of economic uncertainty and tightened federal immigration rules from the Treasury Board of Canada, which reduced the flow of people into the city. While inner-city values rose, oversupply in newer northern and southern communities pushed prices down. Lurie noted that favorable rental conditions are currently slowing the transition to homeownership in lower price ranges.

Similarly, the Vancouver region saw home sales fall 4.6 percent year-over-year to 1,869 units, a figure 20.7 percent below the 10-year seasonal average. The composite benchmark price for all residential property types dropped 5.6 percent from August 2025 to $1,081,900. Andrew Lis, chief economist for Greater Vancouver Realtors, stated that slower sales and receding inventory levels from 2025 peaks have caused prices to drift downward across all market segments. This lag, which began in May, is expected to persist through the end of 2026.