{"id":28473,"date":"2026-09-21T15:15:59","date_gmt":"2026-09-21T22:15:59","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=28473"},"modified":"2026-09-21T15:16:10","modified_gmt":"2026-09-21T22:16:10","slug":"unsold-condo-inventory-has-built-up-in-vancouver-burnaby-surrey","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2026\/09\/unsold-condo-inventory-has-built-up-in-vancouver-burnaby-surrey\/","title":{"rendered":"Unsold Condo Inventory Has Built Up in Vancouver, Burnaby &#038; Surrey"},"content":{"rendered":"<p style=\"text-align: justify;\">Metro Vancouver is seeing its weakest pace of new condo construction since 2011, according to the Canada Mortgage and Housing Corporation (CMHC).<\/p>\n<p style=\"text-align: justify;\">New condo construction in Metro Vancouver fell 40% in the first half of 2026 compared with the same period a year earlier, making it the weakest first half for condo construction in 15 years, according to CMHC\u2019s Fall 2026 Housing Supply Report released Thursday.<\/p>\n<p style=\"text-align: justify;\">The continued decline in condo starts could lead to fewer completions in the future, adding pressure on available ownership housing and posing a risk to affordability in the future, said the organization.<\/p>\n<p style=\"text-align: justify;\">\u201cThe condo market remains constrained by weak presales, high construction costs and growing inventories of completed and unsold units,\u201d said the report.<\/p>\n<p style=\"text-align: justify;\">Purpose-built rental apartments account for most new constructions in the region, at about 60%, up from about 20% a decade ago.<\/p>\n<p style=\"text-align: justify;\">Rental units under construction rose about 36% from 2025, as more developers favour rental projects supported by \u201crental-focused policies and financing,\u201d while residential projects \u201chave struggled to sell in recent years,\u201d according to CMHC.<\/p>\n<p style=\"text-align: justify;\">These supports include municipal incentives, rental-specific zoning policies, development charge relief and favourable financing programs designed to help maintain rental project viability, noted the report.<\/p>\n<p style=\"text-align: justify;\">\u201cDevelopers continue to favour rental projects because they carry less risk than condominium developments under current market conditions,\u201d said CMHC.<\/p>\n<p style=\"text-align: justify;\">\u201cThe shift appears likely to continue &#8230;.. Vancouver is positioned to see several more years of strong rental completions, which could continue easing pressure in the rental market.\u201d<\/p>\n<p style=\"text-align: justify;\">But the condo market remains constrained, with large concentrations of unsold inventory have emerged in Surrey, Vancouver and Burnaby. Burnaby is seeing particularly strong inventory growth, according to the report.<\/p>\n<p style=\"text-align: justify;\">With condo construction at current levels, CMHC warns that future buyers could face increased competition for a limited supply of ownership housing, which could put upward pressure on prices.<\/p>\n<p style=\"text-align: justify;\">\u201cCondominiums have traditionally been Vancouver\u2019s primary source of new ownership housing,\u201d said CMHC.<\/p>\n<p style=\"text-align: justify;\">\u201cVancouver\u2019s current pace of starts is still 5,000 to 7,000 units below what\u2019s needed to restore pre-pandemic affordability levels by 2036.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.biv.com\/news\/real-estate\/metro-vancouver-condo-construction-hits-15-year-low-cmhc-12765357\" target=\"_blank\" rel=\"noopener\">CMHC : Metro Vancouver Condo Construction Hits 15-Year Low<\/a> by Daisy Xiong | BIV<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Vancouver is seeing its weakest pace of new condo construction since 2011, according to the Canada Mortgage and Housing Corporation (CMHC). New condo construction in Metro Vancouver fell 40% &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2026\/09\/unsold-condo-inventory-has-built-up-in-vancouver-burnaby-surrey\/\">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":[8,27,13],"tags":[],"class_list":["post-28473","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-pre-sale-projects","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Unsold Condo Inventory Has Built Up in Vancouver, Burnaby &amp; Surrey &#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\/2026\/09\/unsold-condo-inventory-has-built-up-in-vancouver-burnaby-surrey\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Unsold Condo Inventory Has Built Up in Vancouver, Burnaby &amp; Surrey &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Metro Vancouver is seeing its weakest pace of new condo construction since 2011, according to the Canada Mortgage and Housing Corporation (CMHC). 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