March 2026 Real Estate Market Insights
Hosts Suzana Goncalves and Brittany Reimer are joined by Alan He, Director of Leasing at MLA Canada, an exciting new addition to The Pulse who brings on-the-ground insight and expertise from the rental market. Together, they unpack a market still navigating uncertainty in March 2026. With economic headwinds, limited presale activity, elevated resale inventory, and a surge in rental completions, this month’s episode explores how shifting supply dynamics and cautious consumer behaviour are shaping early 2026, and where opportunity continues to emerge for end users.
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Macroeconomic Conditions
Economic uncertainty continues to weigh on market confidence, with GDP declining in Q4, unemployment remaining above 6%, and ongoing global volatility, (particularly tied to energy markets) contributing to a cautious outlook. Provincial policy and budget measures have provided limited stimulus, while affordability challenges persist, resulting in fewer projects moving forward and subdued sales activity overall, with opportunistic end users continuing to drive the majority of transactions.
Presale Market Overview
February marked another historically slow month for presale activity, with just three townhome launches delivering 64 units. This is a significant drop from typical February levels, which are usually driven by larger concrete and wood-frame condominium releases. Sales remained limited at four homes sold, translating to a 6% same-month absorption rate, though this reflects a more deliberate end-user buyer who is taking additional time to make purchasing decisions, while March is expected to remain similarly constrained with just one projected launch totalling 29 units, reinforcing the ongoing slowdown in new supply.
Resale Market Overview
Resale activity increased month-over-month, with sales rising 62% in Greater Vancouver and 36% in the Fraser Valley, though levels remain well below historical averages and continue to lag year-over-year performance. Inventory remains elevated, sitting significantly above 10-year averages. New listings continue to outpace sales despite a slight slowdown compared to last year, while pricing has held relatively stable month-over-month but shows continued softening annually, with declines of approximately 6% in Greater Vancouver and closer to 9% in the Fraser Valley.
Rental Market Overview
February saw a notable increase in rental supply, with seven projects completing across Metro Vancouver and delivering 749 units, while leasing activity rose modestly but absorption declined to 16% as demand was spread across multiple new buildings and influenced by typical seasonal trends. Most completions were wood-frame developments concentrated in Greater Vancouver, and with an additional four projects expected in March adding approximately 379 units, supply is set to remain steady, contributing to continued softening in rents, which now average around $2,670 per month or $4.00 PSF and have declined over recent months as competition and tenant choice increase.
Projects mentioned in this episode:
• Hillcrest – RED Developments
Links mentioned in this episode:
• The Pulse Report - March 2026
• MLA Advisory Services and Sample Reports
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