{"id":11022,"date":"2018-12-05T11:11:42","date_gmt":"2018-12-05T19:11:42","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11022"},"modified":"2018-12-04T12:03:41","modified_gmt":"2018-12-04T20:03:41","slug":"vancouver-new-condo-launches-to-pick-up-steam-in-normally-quiet-december","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/vancouver-new-condo-launches-to-pick-up-steam-in-normally-quiet-december\/","title":{"rendered":"Vancouver New Condo Launches to Pick Up Steam in Normally Quiet December"},"content":{"rendered":"<p style=\"text-align: justify;\">In many ways, Vancouver\u2019s housing market is cooling. The rate at which new condo projects are coming to market isn\u2019t one of them.<\/p>\n<p style=\"text-align: justify;\">At least that\u2019s what MLA Canada, a real estate marketing and intelligence agency, suggests in its latest monthly report.<\/p>\n<p style=\"text-align: justify;\">\u201cOctober through December was the most active quarter of 2018,\u201d writes Suzana Goncalves, MLA\u2019s chief advisory officer, in the December 2018 Pre-Sale Real Estate Insights report.<\/p>\n<p style=\"text-align: justify;\">MLA estimates that developers will launch 5,400 homes in 43 projects this quarter through Vancouver and Fraser Valley.<\/p>\n<p style=\"text-align: justify;\">Some 38 percent of new homes put up for sale last month have found buyers, consistent with the absorption rate observed in the preceding months. That\u2019s well off from the 97-percent sales rate seen in January, but MLA Canada suggests the pre-construction market has \u201cnormalized\u201d in the Lower Mainland.<\/p>\n<p>\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/?attachment_id=11023\" rel=\"attachment wp-att-11023\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-11023\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/new-condos-288x217.png\" alt=\"\" width=\"575\" height=\"433\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/new-condos-288x217.png 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/new-condos-768x578.png 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2018\/12\/new-condos.png 1041w\" sizes=\"auto, (max-width: 575px) 100vw, 575px\" \/><\/a><\/p>\n<p>\u201cThis feels quite promising given the amount of product released and is indicative of a more balanced market condition,\u201d Goncalves continues.<\/p>\n<p style=\"text-align: justify;\">In December, developers are launching sales at 10 condo projects for a total of 1,724 new homes, up from the 1,298 pre-construction units added in November but down from the 2,418 released this October. A vast majority of the units projected to be launched this month are in concrete condo buildings, while 281 are within wood-frame structures. No new townhomes are anticipated.<\/p>\n<p style=\"text-align: justify;\">MLA notes that the level of expected sales launches this month is somewhat of an anomaly.<\/p>\n<p style=\"text-align: justify;\">\u201cDecember is rarely an active month for pre-sale launches, with most projects holding off on sales until the New Year. However, we are anticipating five high profile projects to open their doors for sales,\u201d the report reads.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/12\/vancouver-new-condo-launches-pick-steam-december.html\" target=\"_blank\" rel=\"noopener\">Vancouver New Condo Launches to Pick Up Steam in Normally Quiet December<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In many ways, Vancouver\u2019s housing market is cooling. The rate at which new condo projects are coming to market isn\u2019t one of them. At least that\u2019s what MLA Canada, a &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/vancouver-new-condo-launches-to-pick-up-steam-in-normally-quiet-december\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-11022","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vancouver New Condo Launches to Pick Up Steam in Normally Quiet December &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/vancouver-new-condo-launches-to-pick-up-steam-in-normally-quiet-december\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Vancouver New Condo Launches to Pick Up Steam in Normally Quiet December &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"In many ways, Vancouver\u2019s housing market is cooling. 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