Softening Home Values in 2026: What BC Assessment Means for Tri‑Cities Buyers

BC Assessment released its 2026 notices in January, providing an important barometer for market trends.  According to the agency, the typical assessed value of a detached home in Coquitlam fell 5 % year‑over‑year, while Port Coquitlam and Port Moody each saw a 4 % decline .  Strata properties weren’t immune – assessed values dropped 4–5 % across the Tri‑Cities .  Assessors attributed the declines to a “soft housing market,” with a shift from the pandemic‑era frenzy to balanced or buyer‑leaning conditions .

What does this mean for local buyers and sellers?  Higher inventory and longer days on market create negotiating power.  Buyers who had been priced out during 2021–22 may finally find detached homes below the million‑dollar mark in neighbourhoods like Burke Mountain and Glenwood.  Mortgage rates remain elevated but are expected to moderate later in 2026; a 5 % valuation drop could offset thousands in borrowing costs.  Sellers should adjust expectations and price competitively.  Staging, small renovations and flexible closing dates can help listings stand out.

Looking ahead, expect a modest recovery rather than a price surge.  Developers are still proceeding with master‑planned communities around Moody Centre SkyTrain Station and Burke Mountain Village.  These transit‑oriented projects will add density and amenities, but the initial supply may cap price growth.  With more options on the market, Tri‑Cities real estate is moving toward sustainable, balanced growth.  If you’ve been waiting to enter the market, 2026 may present the opportunity you were hoping for.