November 2026 Real Estate Market Insights
Hosts Brittany Reimer and Ashley Judd return for the November episode of The Pulse, filmed at York, a collection of park-front townhomes by Listraor at Willow and 37th on Vancouver’s West Side. With both the municipal and provincial elections now decided, the episode unpacks what the results mean for housing, alongside the Bank of Canada’s first rate increase since 2023. October brought more presale launches than forecast, led by townhome communities, while resale sales rebounded from September but remained below last year.
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Macroeconomic Conditions
October delivered two elections with real implications for housing. On October 24, the B.C. Conservatives won a majority government, taking the proposed tax on unsold condos and the higher speculation and vacancy tax off the table, while signalling a focus on lower building costs, faster approvals and more municipal say over density. A week earlier, municipal elections brought 13 new mayors across 21 Metro Vancouver municipalities, meaning housing policy could look very different from city to city. On the financing side, the Bank of Canada raised its policy rate to 2.50% on October 28, its first increase since July 2023, as energy prices pushed headline inflation to 3.1%. Policy will shape which projects launch in 2027 and 2028, while rates, financing and buyer confidence continue to drive sales today.
Presale Market Overview
October brought more new supply than expected, with seven projects releasing a combined 270 homes, well above the two launches forecast, as five additional townhome communities came to market ahead of the holiday season. Sales were quieter, with 32 homes sold for a same-month absorption of 12%, compared with a five-year October average of about 500 homes sold and absorption of around 28%. The month’s only condominium launch, a 117-home wood-frame project in Port Coquitlam, accounted for about two-thirds of all sales, while the townhome launches released 153 homes and sold 11. November is forecast to bring two more townhome launches in the Fraser Valley with 81 released homes, well below a typical November of about nine launches and 1,050 homes. None of October’s or November’s launches are concrete, a sign that tower projects are waiting for better conditions.
Resale Market Overview
Resale activity picked up in October, though it remained below last year. Greater Vancouver recorded 2,024 sales, up about 18% from September but down about 10% year over year and roughly 22% below the ten-year seasonal average, while the Fraser Valley recorded 1,051 sales, up 14% month over month and down about 6% from last October. Detached homes held up best, while apartments remained the weakest segment in both regions. Active listings declined in both markets, lifting sales-to-active listings ratios to 13.4% in Greater Vancouver and 11% in the Fraser Valley, the Valley’s closest reading to balanced in some time. Benchmark prices continued to ease, sitting 5.2% below last year in Greater Vancouver at $1,068,600 and 6.4% lower in the Fraser Valley at $860,000.
Rental Market Overview
This month’s episode set rental aside to give the elections the time they deserved, and full rental coverage returns in the December episode. Looking ahead, four purpose-built rental projects are expected to complete in November, bringing more than 800 new rental homes to market. All are located in Vancouver except one wood-frame building in Surrey.
Projects mentioned in this episode:
• York – Listraor
Links mentioned in this episode:
• The Pulse Report - November 2026
• MLA Advisory Services and Sample Reports
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