July 2026 Real Estate Market Insights
Hosts Brittany Reimer and Alan He welcome Taylor Musseau, Executive Vice President for Alberta and the Okanagan, for a special edition of The Pulse from 1333 Bertram in downtown Kelowna. This month, the conversation expands beyond Greater Vancouver and the Fraser Valley to explore how market conditions are evolving across the province. With resale activity showing encouraging signs, presale launches remaining measured, and rental markets continuing to mature, the team examines where confidence is beginning to return—and where caution still prevails.
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Macroeconomic Conditions
While affordability and economic uncertainty continue to influence purchasing decisions, market conditions have become more stable heading into the second half of the year. Developers remain disciplined, bringing projects to market only where demand supports them, while end users continue to drive the majority of transactions. Across both Metro Vancouver and the Okanagan, the focus has shifted from waiting for change to responding to a market that is gradually finding its footing.
Presale Market Overview
June saw five project launches totaling 196 homes, making it one of the busiest months for new supply in 2026. Even so, buyer activity remained measured, with same-month absorption reaching 7%, well below seasonal averages as purchasers continued to take their time before committing. Most launches remained concentrated in attainable townhome product across the Fraser Valley, while Kelowna recorded no new presale launches despite continued demand for completed homes. Looking ahead, activity is expected to ease seasonally, with just three townhome projects forecast to launch in July.
Resale Market Overview
The resale market delivered one of its strongest performances in several months, particularly in Greater Vancouver where sales increased nearly 10% year over year across detached, townhome, and apartment product. The Fraser Valley remained more subdued, though affordability continues to improve for buyers. Inventory has also begun to stabilize, with active listings declining year over year across both regions and fewer new listings coming to market, signalling that sellers are becoming more selective. While pricing remains under pressure in some markets, conditions are gradually moving toward a healthier balance.
Rental Market Overview
Purpose-built rental continues to be one of the most active segments of the housing market. June delivered six rental completions totaling 677 homes, with leasing activity strengthening as the summer moving season gained momentum. Another 892 homes are expected to complete in July, extending one of the strongest delivery periods seen this year. While asking rents across Metro Vancouver have largely levelled off, Kelowna is experiencing a more noticeable adjustment as new supply enters the market, creating greater choice for renters and signalling a more balanced rental environment than the city has seen in recent years.
Projects mentioned in this episode:
• 1333 Bertram – Mission Group
• Movala – Stober Group
Links mentioned in this episode:
• The Pulse Report - July 2026
• MLA Advisory Services and Sample Reports
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