“The market continues to navigate a cautious economic backdrop, with the Bank of Canada maintaining its hold on interest rates, inflation gradually easing but remaining above target, and renewed trade uncertainty impacting confidence. Presale launch activity remained constrained in July, but strategically priced releases demonstrated that demand remains when value is clear. Meanwhile, rental supply continues to build across Metro Vancouver, with summer completions providing renters with more choice.” — Melissa Nestoruk, Product Development Specialist, MLA Canada
MARKET INSIGHTS - JULY 2026
July saw another month of limited presale activity, with just three townhome projects launching across Metro Vancouver and the Fraser Valley. Despite constrained supply, absorption exceeded historical norms, demonstrating that well-priced product continues to resonate with buyers. On the rental side, completions remained steady through the summer, with another increase in deliveries forecast for August as new inventory continues to enter the market.
PRESALE SUMMARY
Presale supply remained constrained in July, with only 42 townhomes released across three projects. Although launch activity was limited, same-month absorption reached 50%, well above the five-year July average, driven by strategically priced releases and smaller initial inventories. Looking ahead, August is expected to remain quiet, with only one project forecast to launch as developers continue to carefully manage new supply.
PURPOSE-BUILT RENTAL SUMMARY
Rental supply continued to build in July with four projects completing across Metro Vancouver and the Fraser Valley. While same-month lease-up remained modest, most projects had only recently begun pre-leasing before completion, making early absorption less indicative of long-term performance. August is forecast to deliver approximately 864 additional rental units, including both concrete and wood-frame projects, providing renters with greater choice heading into the fall leasing season.
RESALE SUMMARY
Resale activity softened in July following a brief improvement in June, with both Greater Vancouver and the Fraser Valley recording month-over-month declines in sales. Although active listings edged lower, inventory remains elevated relative to historical norms, continuing to provide buyers with ample choice. Benchmark prices also continued their gradual year-over-year adjustment across both regions, reflecting a market that remains balanced but cautious as economic uncertainty persists.
Coming soon! Stay tuned for our fully comprehensive overview of the macroeconomics, presale, rental and resale market video report in the August edition of The Pulse.