Lower Mainland Commercial Sales Drop 14% in Q2: Office Deals Collapse While Land Prices Signal a Bottom

The Lower Mainland commercial real estate market posted 285 sales in the second quarter of 2026, representing a 2.7% decline from the 293 transactions recorded in Q2 2025 and a sharper 14% drop from the previous quarter, according to Commercial Edge data from Greater Vancouver Realtors. Despite fewer transactions, the total dollar value of commercial sales reached $1.541 billion, marking a substantial 16.3% increase from the $1.325 billion recorded in the same period last year. Andrew Lis, GVR's chief economist and vice-president of data analytics, attributed the quarterly drift lower to recent global economic turmoil, specifically citing surging US bond yields as a harbinger of potential economic trouble that has worried investors and created market hesitation.