“With a new provincial government and new councils across the region, the rules this market operates under are likely to shift and may look different from one city to the next. The Bank of Canada’s hike to 2.50% has put borrowing costs back at the centre of buyers’ decisions. Policy will shape what gets built in 2027, but confidence and financing are what move buyers today. Those who plan for both will be best placed.” — Melissa Nestoruk, Advisory Intelligence Manager, MLA Canada
MARKET INSIGHTS - OCTOBER 2026
October delivered more presale launches than expected, led by townhome communities, but buyers stayed cautious and sales trailed well behind supply. Resale activity rebounded from September in both Greater Vancouver and the Fraser Valley, even as benchmark prices continued to ease. Rental completions slowed to 694 new homes, with a larger wave of roughly 825 homes on the way in November.
PRESALE SUMMARY
Seven projects launched in October, releasing a combined 270 homes—well above the two launches forecast. Most were townhome communities bringing out a first phase ahead of the holidays. Buyers were slower to respond, with 32 homes sold for a same-month absorption of 12%, compared with a five-year October average of about 28%. November is expected to bring two more townhome launches in the Fraser Valley totalling approximately 81 homes, with no concrete projects on the calendar.
PURPOSE-BUILT RENTAL SUMMARY
Three projects completed in October across Vancouver West, Vancouver East and North Vancouver, adding approximately 694 purpose-built rental homes. Reported same-month lease-up measured 2%. Deliveries are set to pick up in November, with four projects and roughly 825 homes forecast, including a 464-home concrete building. All but one, a wood-frame project in Surrey, are located in Vancouver.
RESALE SUMMARY
Sales bounced back in October, rising 17.9% from September in Greater Vancouver and 14.0% in the Fraser Valley, though both stayed below last year as the elections and a surprise rate hike kept buyers cautious. Detached homes held up best, while apartments remained the weakest segment. Sales-to-active listings ratios rose to 13.4% in Greater Vancouver and 11% in the Fraser Valley, nudging both markets closer to balance. Benchmark prices continued to drift lower, and borrowing costs now look set to decide how quickly buyers return.
Coming soon! Stay tuned for our fully comprehensive overview of the macroeconomics, presale, rental and resale market video report in the November edition of The Pulse.