The pre-sale forecast for February is 11 projects consisting of approximately 1,955 units. Of these 11 projects, 8 are concrete high-rise towers. The high-rises launching in February are anticipated to hit new price records in markets such as Brentwood, Metrotown, Richmond, New Westminster and Vancouver. These projects will likely see strong absorption rates based on current demand we are seeing across the region.

A look back at the last two months shows that 11 projects launched in December and approximately 63 per cent of the homes have been absorbed by the market. The majority of the home sales were driven by condo projects in West Coquitlam and Langley. Whereas, January 2018 had over 1,000 pre-sale units released to market, a combination of concrete high rises and townhomes.

For a full overview of January’s housing activity, download the report here.