Canadian Home Sales Drop in Calgary and Vancouver
Home sales and benchmark prices declined in both Calgary and Vancouver during October 2026, driven by oversupply and interest rate hikes.
Residential real estate markets in Western Canada experienced significant declines in October 2026. In Calgary, the Calgary Real Estate Board reported a 15.3% year-over-year drop in home sales, with 1,592 properties sold. The residential benchmark price fell 0.4% to $564,200, with the sharpest declines occurring in high-density housing. Apartment-style homes saw prices drop 7.9% to $288,800 and row-style properties fell 5.1% to $407,500, which economists attributed to oversupply.
Similarly, the Vancouver region saw home sales fall 10.2% compared to October 2025. Greater Vancouver Realtors reported 2,024 sales, a figure 22.5% below the 10-year seasonal average. The composite benchmark price for residential properties in Vancouver dropped 5.2% year-over-year to $1,068,600.
While both cities saw decreases in new listings and total inventory, the drivers of the slowdown differed. In Vancouver, the decline was linked to market participants recalibrating following an interest rate hike from the Bank of Canada. In Calgary, the pricing pressure was more concentrated in specific housing types due to an excess of available high-density units.
