Metro Vancouver Presale Watch: November 2026

The presale market has gone quiet — and that changes the maths

Today is Presale Watch: what is actually happening with new condos in Metro Vancouver in November 2026.

The short version: almost nothing new is launching, a record stock of new condos is sitting unsold, and developers are holding back projects that would normally be selling now. For a buyer, that means less choice in presales — but more choice in finished new homes.

The headline numbers — each labelled by its month

• New condo sales, first half of 2026: just 1,340 sold across Metro Vancouver, a record low, per Rennie figures reported November 2, 2026.

• Unsold new condos, end of June 2026: more than 14,000 units still unsold, per Rennie. About 56% — nearly 8,000 homes — were already under construction.

• Completed and unsold condos, September 2026: 4,588 finished condo apartments in the Vancouver area had no buyer signed, per CMHC.

• Presale launches, September 2026: just two projects, releasing 32 homes — about 96% below the five-year September average — with no reported sales, per MLA Canada.

• Expected launches, October 2026: two larger launches totaling about 172 homes, per MLA Canada.

• Condo starts, first half of 2026: down 40% year over year, the weakest first half since 2011, per CMHC. Rental apartments accounted for around 60% of housing starts in 2026, compared with less than 20% in 2016.

Resale condos are soft too: in October 2026, Greater Vancouver REALTORS® reported 892 condo sales, down 16.7% from a year ago, at a benchmark of $673,400, down 5.9% year over year.

Why so few launches?

Buyers are waiting for clarity after October's municipal and provincial elections and the Bank of Canada rate hike on October 28. Investors, who used to buy a large share of presales, have largely stepped back. And with construction costs still high, many developers cannot meet the presale thresholds their lenders require to start building — so projects that are otherwise ready to sell stay on hold.

MLA Canada put it plainly: developers are releasing homes in smaller phases, "responding to cautious buyer demand while waiting for greater policy and economic certainty." Rennie analyst Ryan Wyse made the related point that this is now, in effect, a new-home market rather than a presale market: the stock to buy is largely homes already built or under construction, not floor plans for 2028 or 2029.

What this means for you

If you are buying your first home

A presale used to mean time to save while the building went up, and a brand-new home with a warranty. Right now, weigh that against a finished home you can walk through, get appraised, and move into in weeks — with strata fees, views and finishings you can see, not imagine. With more than 14,000 new units unsold at the end of June, ask what incentives are on offer and compare the full cost with a comparable resale condo. Remember a presale usually attracts GST, while a resale home that has already been lived in is generally GST-exempt; confirm the tax treatment with your lawyer and accountant before you sign anything.

If you are an investor or watching assignments

Fewer launches now means fewer completions in a few years. But today, rental completions are climbing — MLA Canada counted 1,001 market rental homes completed in September — and only 15% were leased that month. Check rental demand, strata fees and holding costs for the specific building before you commit.

If you already own a presale that completes soon

Speak with your lender early. The condo benchmark is lower than a year ago ($673,400 in October, down 5.9%), so ask how the lender will value the suite at completion, and re-check your rate hold after the October rate hike.

Presale or move-in ready? A quick check

• Choose presale if you want a brand-new home, a warranty, and time to save, and you are comfortable with a completion date years out and a price set today.

• Choose move-in ready if you want certainty — the actual unit, the actual strata fees, a firm mortgage and a move-in date in weeks. In November 2026, that is where most of the new-home choice sits.

• Either way: compare presale price plus GST, finished new-home price, and a comparable resale. The cheapest headline is rarely the cheapest total cost.

Three smart next steps this week

1. Buyers: Browse presale condos and townhomes and finished new homes side by side, and shortlist by completion date, not just starting price.

2. Everyone considering a presale: Ask for the disclosure statement, deposit schedule and completion date in writing, and have a lawyer review them before you sign.

3. Owners with a completion coming up: Call your lender this week to confirm valuation and financing.

Talk to Kevin Lee before you decide

One building or one price range can behave very differently from the regional average. If you want to know what these November numbers mean for your home or budget, get in touch.

Contact Kevin Lee, SoldToday.ca: 604-600-5777, soldtoday.ca@gmail.com, 1200 W 73rd Ave #100, Vancouver, BC V6P 6G5. Create a free account to save searches, get alerts, and download the free BC Home Buyer's Guide.

Sources: Rennie figures reported by Daily Hive Vancouver, November 2, 2026; MLA Canada, October 2026 Pulse Report (September presale data); CMHC Market Absorption Survey and Fall 2026 Housing Supply Report, September 2026; Greater Vancouver REALTORS® October 2026 figures. Figures are for Metro Vancouver / Vancouver CMA as stated by each source and may differ from Fraser Valley figures. This post is general information, not financial, legal, or tax advice — confirm current details with a licensed REALTOR®, lawyer, notary, or accountant before you act.