The presale market has been challenging. In our October 2025 article, we explored low sales figures and widespread project cancellations across Metro Vancouver. Since then, market conditions haven’t changed much. The Bank of Canada has maintained interest rates in a holding pattern, after Macklem hinted that the cut cycle is over. The sales activity remained flat as real estate transaction counts in 2025 hit the lowest in over 20 years.
Inventory levels have climbed as demand stayed flat, leading to a pertinent question about the future of Vancouver presales – when will (the pent-up?) demand return once buyers feel the market has bottomed out? Here are some tailwinds that put buyers in a place of power in 2026 in a rather frothy real estate market in Vancouver.
Buyers’ Advantage #1 – Many Developers Offering Unprecedented Incentives
Gone are the days when buyers lined up overnight for a presale presentation centre’s grand opening, seeking to be the first to put down a bank draft and secure a unit. Instead we now see developers rolling out various creative incentives to attract the hesitant buyers.
From 0.99% financing (as opposed to the regular mortgage rates which are often north of 4%) to generous price discounts, from a luxury vehicle to a down payment redemption lottery draws, these incentives represent a meaningful shift from the sellers’ market of 2020 to 2022 when the near-zero interest rates created a frenzy of buyers’ demand.
Buyers’ Advantage #2 – High Inventory Now, Potentially Scarce Later, A Paradox in New Construction Cycles
The current market has a rather counterintuitive contradiction potential. Vancouver Sun reports that unsold completed units continue to accumulate across Metro Vancouver. At the same time, major project cancellations are shrinking the future development pipeline. This creates a potential scenario where today’s surplus becomes tomorrow’s shortage. If demand returns while new supply remains constrained, prices could spike rapidly before new project starts can catch up to the pent-up demand. History has shown us this pattern before.
It’s because new housing project starts can take years to reach completion, unlike supply of coffee or avocados. Even if new housing project starts increase again as the real estate market picks up steam, the new units won’t be added to the inventory. If the pent-up demand mops up the existing inventory before the new units hit the market, the tides will turn back into a sellers’ market.
Buyers’ Advantage #3 – Construction Costs Continue Their Upward Trajectory
Future builds may cost significantly more to deliver. Industry data shows that construction material costs in BC are rising faster than inflation. This cost is naturally passed onto buyers of the future, making an argument for investors to buy at today’s prices in a down market before the pendulum swings back again.
Years of home ownership also leads to growing your equity while your mortgage continues to be paid down, which means buyers have to also calculate the lost equity gains into factor when deciding whether they should wait for further price drops or not – Will the equity gains be larger than the price dip if you wait another year or two?
The Bottom Line: Uncertainty Remains, But Current Conditions Favour Buyers
Nobody possesses a crystal ball for economic forecasting. Interest rates could fall further if tariff wars and economic pressures erode the Canadian economy. Alternatively, Canada’s new global trade arrangements could strengthen the economy and push the BoC to raise rates again. What is certain at this present moment is this: The presale market has struggled for years as the Vancouver real estate market saw a historic low in 2025. Aggressive incentives offered by major developers signal a clear buyers’ market, not the frenzied sellers’ market we witnessed in past years.
Are you ready to step off the sidelines and buy a presale condo or townhome? Or will you wait it out more and see what happens? Share your thoughts below.
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