Real estate market usually slows in November, but this year was much slower

Home market slows to crawl

Photo: The Canadian Press

The number of housing sales slowed substantially in the B.C. Interior last month.

The Interior real estate market ground to a halt in November.

There were 939 sales across the entire Association of Interior Realtors last month, which was down more than 5% from November 2024. Sales typically slow as the holiday season approaches, but this year it was more pronounced.

“It’s common for real estate activity to ease as the holiday season nears, but November tapped the brakes a little harder than usual,” AIR president Kadin Rainville said in a press release. “That seems to be the theme across the province.”

When it came to inventory, the number of new listings was down 6.6% compared to last year at this time, but active listings were up slightly. The largest year-over-year active listings increase occurred in the North Okanagan, at nearly 11%.

“With many buyers and sellers focused on seasonal plans, the market continues to move, but at more of a casual stroll rather than its typical seasonal pace,” Rainville said. “However, buyers and sellers remain engaged with relatively healthy inventory levels that will provide a strong foundation heading into the new year.”

Benchmark prices dropped from October in most housing categories throughout the AIR, which includes the Okanagan Valley, Kamloops, Kootenay and South Peace River regions.

Benchmark prices in the single-family, townhome and condominium categories were up from November 2024 in Central, North and South Okanagan and in Kamloops, with only three exceptions: North Okanagan single-family and townhomes, and Kamloops townhomes.

There were fewer sales last month in all three Okanagan regions and in Kamloops compared to November 2024. Sales were up slightly in the Kootenay region compared to last year at this time.

There were 254 new listings recorded in the Kootenays last month, marking a 2.8% increase compared to the same time in 2024.

“Listing supply in the Kootenay region remains compressed, which is no surprise given the ongoing challenges in sustaining higher inventory levels in the region—perhaps a reflection of the area’s growing popularity,” Rainville said. “It is positive to see that sales activity was largely on par with the same month last year, which should set up a solid handoff heading into 2026.”