{"id":574161,"date":"2026-04-01T02:00:24","date_gmt":"2026-04-01T02:00:24","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/574161\/"},"modified":"2026-04-01T02:00:24","modified_gmt":"2026-04-01T02:00:24","slug":"condo-pre-sales-in-metro-vancouver-plummeting-experts-say-bc","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/574161\/","title":{"rendered":"Condo pre-sales in Metro Vancouver plummeting, experts say &#8211; BC"},"content":{"rendered":"<p>There is another sign of the slumping condo market in Metro Vancouver: the number of pre-construction sales has crashed.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/01\/70c8fc80.png\" alt=\"\" style=\"position:absolute;width:1px;height:1px\" referrerpolicy=\"no-referrer-when-downgrade\"\/><\/p>\n<p>Matt Scalena, the co-host of the Vancouver Real Estate Podcast, said sales are historically low.<\/p>\n<p>\u201cBuilders can\u2019t build for a price that matches the resale market, so there\u2019s this disconnect between pre-sale and resale, a price differential, and people just aren\u2019t interested in buying pre-sale right now,\u201d he said.<\/p>\n<p>Developers are now either waiting or walking away, with a project in Richmond being a prime example of that.<\/p>\n<p>It is still just a hole in the ground and hundreds of buyers are now waiting to get their deposits back.<\/p>\n<p>\t\t\t\t\t<img decoding=\"async\" width=\"170\" height=\"225\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/01\/1767930311_275_national.jpg\" alt=\"Get breaking Canada news delivered to your inbox as it happens so you won't miss a trending story.\"\/><\/p>\n<p>\t\t\t\t\tGet breaking National news<\/p>\n<p>Get breaking Canada news delivered to your inbox as it happens so you won&#8217;t miss a trending story.<\/p>\n<p>In the first quarter of 2021, nearly 6,000 pre-construction units were sold across B.C.<\/p>\n<p>Story continues below advertisement<\/p>\n<p>In the first quarter of this year, there have been just 124.<\/p>\n<p>\u201cThe pre-sale market has always been very reliant on the investor, and I think that given the outlook for the market, which is falling prices, falling rents, no population growth, there\u2019s not a whole lot of incentive for investors to step up,\u201d Steve Saretsky, a realtor with the Saretsky Group, said.<\/p>\n<p>Buyers can now find better deals in the resale market, leaving new projects struggling to get off the ground.<\/p>\n<p>\t\t\t\t\t\t<img decoding=\"async\" class=\"c-video__image\" alt=\"Click to play video: 'Opportunities abound for 1st-time homebuyers as housing market softens'\" width=\"640\" height=\"360\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/04\/1ST_TIME_HOME_BUYERS_VMS.jpg\" loading=\"lazy\"   data-\/><\/p>\n<p>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t1:56<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tOpportunities abound for 1st-time homebuyers as housing market softens\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\n\t\t\tMore on Economy<br \/>\n\t\t\tMore videos\n\t\t<\/p>\n<p>A similar situation is happening in other cities across Canada.<\/p>\n<p>In Ontario, the situation may be even worse, with tens of thousands of unsold units.<\/p>\n<p>On Monday, Prime Minister Mark Carney announced that Ontario and Ottawa would spend billions to help cut municipal housing development charges in half for three years to spur new construction.<\/p>\n<p>Story continues below advertisement<\/p>\n<p>B.C. Housing Minister Christine Boyle says she\u2019s meeting with the federal housing minister this week and says B.C. should be treated as well as Ontario.<\/p>\n<p>\n\t\t&amp;copy 2026 Global News, a division of Corus Entertainment Inc.\t<\/p>\n","protected":false},"excerpt":{"rendered":"There is another sign of the slumping condo market in Metro Vancouver: the number of pre-construction sales has&hellip;\n","protected":false},"author":2,"featured_media":574162,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194298],"tags":[49,48,220541,46,220540,55],"class_list":["post-574161","post","type-post","status-publish","format-standard","has-post-thumbnail","category-vancouver","tag-ca","tag-canada","tag-construction-pre-sales","tag-economy","tag-metro-vancouver-real-estate","tag-vancouver"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/574161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=574161"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/574161\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/574162"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=574161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=574161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=574161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}