Lower Mainland's presale home launches plunges to just 6% of a normal month | Daily Hive

Lower Mainland's presale home launches in early 2026 plunges to just 64 units or 6% of a normal month

Construction cranes for residential towers in North Vancouver. (Adam Melnyk/Shutterstock)

The Lower Mainland’s housing market is showing continued signs of steep stagnation, with new data pointing to a continued slowdown in presale activity and persistent pressure on resale prices, according to a market bulletin by MLA Canada last month.

For the month of February 2026, only 64 new presale homes across three projects were launched across Greater Vancouver and the Fraser Valley.

That is a big drop compared to a typical February, which usually sees more than 1,100 units come to market. February 2026’s presales launches represented just about six per cent of the historical average.

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Similarly, January 2026 saw far fewer launches, with the company recording 145 units entering presale across three projects. But for a typical January, there are usually at least four project launches and over 600 units.

Many projects that were expected to launch earlier have been delayed, and some still do not have clear timelines. Builders are increasingly being cautious and focusing more on homes for end-users — people who plan to live in them — rather than investors.

At the time, MLA Canada was anticipating an even slower month for presales in March 2026, with just one project and 29 units expected to launch.

This sharp drop suggests both developers and buyers are being more cautious than usual. Builders appear less confident that new projects will sell quickly, so they are holding off on launching rather than risk slow sales or having to lower prices that do not cover construction and other project costs.

At the same time, many buyers are hesitant — whether due to affordability concerns, higher mortgage rates, or uncertainty about where prices are headed. As a result, fewer people are buying, and fewer projects are being released, keeping overall market activity quiet, which is also reflected in the resale market of existing homes.

“We’re still seeing a holding pattern across the market. Many projects originally expected to launch in 2025 were pushed to Spring 2026, and a number of those still aren’t showing signs of moving forward,” said Melissa Nestoruk, the product development specialist for MLA Canada.

While fewer homes are being sold, more rental buildings are being completed.

In February 2026, 749 secured purpose-built rental units were finished across the region. But not all of them are filling up quickly. Only about 16 per cent of these units were leased, which is typical for the slower winter season .

For the month of March 2026, 379 secured purpose-built rental units across four projects were expected to reach completion.

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