Woodframe Pre-Sale Completion Snapshot as of April 2021

Highlights

• This update details the number of actively-selling, sold-out and contemplated woodframe pre-sale homes by sub-market and estimated year of completion.
• By the end of 2020, 3,994 woodframe pre-sale homes completed. By the end of 2021, 5,971 concrete pre-sale homes are expected to complete.
• Of woodframe pre-sale homes expected to complete between 2020 and 2023, 88% are sold.

Additional Insights

Of the 14,084 woodframe homes expected to complete between 2020-23, 88% have already been sold. The Squamish sub-market has the highest proportion of homes sold at 98%, followed by North Vancouver at 96% and Langley/Cloverdale at 94%.

In terms of contemplated woodframe product, Surrey/Delta/White Rock has the largest number of homes at 13,639 (a 7% increase compared to the January 2021 Snapshot) while Langley/Cloverdale has the second highest at 7,028 homes (a 1.6% decrease). In total, there are 40,084 contemplated woodframe pre-sale homes from Squamish to Abbotsford.

Every three months, rennie intelligence provides a Woodframe Multi-family Completion update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of woodframe homes associated with actively-selling, sold-out, and contemplated multi-family projects are presented, by sub-market, and by their estimated year of first occupancy. These dates of first completion reflect direct estimates provided by NHS Live. 

Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie.