More than 14,000 new condominiums were unsold across Metro Vancouver at the end of June 2026, with sales falling to a record low as developers sharply cut back on new launches, according to Rennie's Fall 2026 report and MLA Canada's October 2026 report.
Only 15 per cent of the unsold units were in projects where construction had yet to begin, while 56 per cent — nearly 8,000 homes — were under construction, about twice the number of completed units awaiting buyers.
Just 1,340 new condominiums were sold across the region in the first half of 2026, a record low, even as prices declined and buyers had more choice.
"Metro Vancouver's condo market isn't really a pre-sale market anymore — it's a new-home market," said Ryan Wyse, market intelligence manager and lead analyst at Rennie, who warned that completed and unsold inventory will keep rising before the cycle turns.
Rennie noted that no concrete condominium tower presale launches had occurred in Metro Vancouver so far in 2026, with most unsold units in projects yet to start construction being in wood-frame developments.
MLA Canada's September figures showed just two presale projects launched in Metro Vancouver and the Fraser Valley, releasing 32 homes, with no sales. Over the previous five years, September averaged about seven launches and 870 homes, with more than 35 per cent typically selling within the month — meaning September 2026's release total was about 96 per cent below the historical average.
"September gave buyers more choice and lower prices, but not the confidence to act," said Melissa Nestoruk, advisory intelligence manager at MLA Canada, who also cited uncertainty over future housing policies ahead of October's municipal and provincial elections.
The resale market was also weak. Greater Vancouver Realtors recorded 1,717 sales in September 2026, down 8.4 per cent year on year and 25 per cent below the 10-year average, with condominium resales falling 18.6 per cent.
Meanwhile, 1,001 secured purpose-built rental homes were completed across six projects in September 2026, the largest monthly total that year. Average advertised rent in MLA Canada's sample fell to C$2,671 in September from C$2,711 in August.
Rennie warned that with few new presale projects launching, Metro Vancouver's future housing supply could face a gap once demand recovers.
**Keywords:** Metro Vancouver; condominium market; record low sales
