July did what July almost always does. Sales pulled back from June's pace, months of supply ticked up, and the sense of momentum that characterized parts of the spring went quiet. None of that is surprising. The question every July is not whether volume falls from June (it always does) but where the numbers land relative to the same month in previous years, and relative to what this city has historically produced in the heart of summer.

The City Picture: A Seasonal Pause, Not a Reversal

Total residential sales across Vancouver came in at 606 in July 2026, down 14.4% from June and 5.3% below July 2025. That year-over-year dip ends the three-month streak of positive annual comparisons we tracked through April, May, and June. Worth acknowledging, though it needs context. July 2025 was a reasonably active month in this city, so comparing against it is a tougher test than the soft year-ago numbers that made the spring figures look strong.

Against the 10-year seasonal...