11/04/2026
Rennie and MLA Canada just released their latest numbers. 👇
→ 14,000+ new condos unsold across Metro Vancouver at the end of June
→ Nearly 8,000 of them are still under construction
→ 1,340 new condos sold in six months, the lowest ever recorded
→ Zero concrete tower presale launches so far in 2026
→ September: 2 launches, 32 homes, not a single sale
→ That is about 96% below the usual September average ⚠️
Rennie’s analyst said it plainly:
“Metro Vancouver’s condo market isn’t really a pre-sale market anymore. It’s a new-home market.”
They also expect completed and unsold inventory to keep rising before this cycle turns. 📉
The resale side is not much better. 😔
→ GVR sales: 1,717 in September, down 8.4% from last year
→ Condo resales down 18.6%
→ GVR listings: 16,394, about 24% above the 10-year average
→ Fraser Valley listings: 9,763, about 31% above the 10-year average
MLA Canada summed up the mood:
“September gave buyers more choice and lower prices, but not the confidence to act.”
Meanwhile, rental completions are surging. 🏢
1,001 purpose-built rental homes finished in September alone, and the average advertised rent in newer buildings fell to $2,671.
In Surrey it averages $2,095. In Langley, $2,323.
Here is what it means: 🔑
Buyers have more choice than they have had in years.
But almost nothing new is being launched to replace this inventory.
Developers are waiting. Projects are on hold.
When the cycle turns, the supply that should be coming through will be thin.
Today’s choice will not last forever. 📈
Credits: Rennie and MLA Canada, via Daily Hive Urbanized
📞 778.707.0020 | [email protected]
