Presale market stalled: What’s ahead for Metro Vancouver’s new-build housing?
Emma Caplan-Fisher | Real Estate Magazine • September 3, 2025
After years of outsized demand, Metro Vancouver’s presale housing market has slowed to a pace not seen in over a decade.
According to real estate sales and marketing company MLA Canada, only 35 projects launched in the past year — over 40 per cent below the five-year average — and fewer than 400 presale units sold, marking an 85 per cent decline from historical benchmarks.
For Barrett Sprowson, senior vice president, residential at Peterson Real Estate, the numbers match what he’s seeing on the ground.
“I’ve said the market is stagnant (but) that was very diplomatically understated. If I were a little more honest, I’d say it’s kind of anemic and as flat as I’ve ever seen it.”
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
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The economics of building new homes in Canada are now "simply broken," sparking a macroeconomic drag that CIBC economists warn is just beginning to take hold. 👉 Details Here
