06/06/2026
3,000+ brand new condos sitting UNSOLD in Metro Vancouver 😱
CMHC just confirmed it, unsold inventory has DOUBLED from last year. Industry pros say developer-owned stock hasn’t been this high in over 20 years.
Here’s why:
Construction costs went up. Government fees went up. Prices went up. Buyer budgets? Didn’t.
Nobody wants a 450 sq ft box with no parking and no storage, especially when resale options are bigger and moving faster.
Developers are now throwing in free parking, storage lockers, cashback, and deposit returns just to get deals done.
Hotspots: Burnaby, Coquitlam, Surrey, mostly high-rise towers sitting empty.
If you’re a first-time buyer? This is worth paying attention to. Older resale condos are outselling new builds right now.
Would you rather buy a brand new condo with incentives, or an older resale that’s already proven itself? 🤔