B.C. has nearly 6,700 completed but unsold homes as condo market cools

ASM, Philippine Canadian Inquirer
September 15, 2026

VANCOUVER, British Columbia — Thousands of newly completed homes remain unsold across British Columbia, highlighting a growing disconnect between available housing and what buyers are prepared or able to purchase in the current market.

According to Q2 2026 data from real estate data platform Real Property Data, analyzed by The Realist, B.C. had 6,687 completed but unsold homes, including 5,511 condominium units.

Burnaby recorded the highest number in the province with 1,208 completed but unsold homes, followed by Vancouver with 1,017, Surrey with 798, Coquitlam with 620 and Richmond with 396.

Other markets with notable standing inventory included Kelowna with 372 units, Langley Township with 276, New Westminster with 224, Delta with 211 and Langford with 188.

The figures come as B.C.’s condominium sector faces softer demand and a slowdown in new construction.

Canada Mortgage and Housing Corporation said condominium apartment starts in Metro Vancouver fell another 40 per cent during the first six months of 2026. CMHC cited weak presales, high construction costs and growing inventories of completed and unsold units as factors weighing on the sector.

The agency also noted significant concentrations of unsold homes in Surrey, Vancouver and Burnaby.

However, buyers should be careful when interpreting the numbers.

A home classified as “completed and unsold” has been finished but has not yet been sold by the developer. The classification itself does not establish that every unit is physically vacant.

The rising inventory also does not necessarily mean developers will sharply cut prices. However, a larger supply of unsold units may give some prospective buyers more choices as developers work to move completed inventory.

At the same time, CMHC has warned that the slowdown in condominium construction could eventually reduce the future supply of ownership housing if fewer projects move forward.

For prospective buyers in B.C., the numbers paint an unusual picture: thousands of homes have already been built, but a significant share remains unsold as affordability pressures, borrowing costs and weaker presale demand continue to reshape the housing market.