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May is usually the high-water mark for sales in Greater Victoria, and while they did reach their highest count so far in 2026, they were still well below typical May levels. In fact, this was the fewest May sales since 2013 when excluding the pandemic year of 2020. New listings continued to come to market at an above average clip, however, pushing inventory levels to new heights. May saw the most active listings in any month since September 2014.
May posted the highest sales count in the Vancouver Region so far in 2026. In the context of the past two and a half decades, however, this was the second-fewest May sales. Meanwhile, new listings continued to come to market at a lower pace than last year, and inventory was below the 2025 same-month count for the third consecutive month.
The latest provincial budget projects a record-high deficit even as some capital spending is delayed and taxes are raised. It will also increase the cost of developing new housing.
King County closed May with inventory at nearly double its 10-year seasonal average. Despite this, and the fact that sales are running equally far below their own historical norms, the market still tilted toward sellers.
May's new listing count was down significantly from April's for the second year in a row. The Coachella Valley's market remained balanced despite this, with May also registering a subdued sales count.
Sales and listings both expanded in San Diego in April, though they remained well below typical levels for the month. With rising bond yields pushing mortgage rates higher, buyers are likely to remain cautious in the coming months.
Every rennie advisor is committed to helping you achieve your real estate goals with unsurpassed market intelligence and dedicated service. There is no task too large or too small for our clients.
