Pre-sales in Metro Vancouver have been up and down in 2025. We have seen growing levels of standing inventory as well as a growing number of projects at risk of returning deposits and coming off the market due to slow sales activity.

We may see some momentum in sales spurred by price reductions for projects looking to off-load standing inventory or reach requirements to secure financing. However, it is likely unsustainable if the pricing reset is at a level that does not allow for new development with the current land values, construction prices and government fees associated with new development. This offers an opportunity for buyers to enter the new home market at prices well below what others may have purchased for in the same building 1-2 years prior.

The removal of foreign purchasers and negative buyer sentiment on condo pricing trends from potential domestic investment has significantly limited the buyer pool to nearly exclusively end-user buyers. We have seen projects that have had varying levels of success that are reasonably priced and targeted towards end-user buyers. The lack of demand coupled with construction costs, government fees, and regulations has made many projects infeasible for developers and will likely decrease supply, especially in the high-density sector.

For 2026, we will likely see continued moderate success in product that is tailored to end users, and some situational opportunities for buyers considering new move-in ready product. High density development is likely to be all but halted unless circumstances/policy affecting the cost of development begin to change.

~ Connor Edinger, Zonda Urban Vice-President | Market Research | Western Canada

Metro Vancouver New Housing Outlook 2026 : Why Connor Edinger Says The Market’s Next Moves Matter by Erin Nicks | Livabl