Woodframe Pre-Sale Completion Snapshot as of May 2020
  • 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, 5,647 woodframe pre-sale homes are expected to be complete.
  • Of woodframe pre-sale homes expected to complete between 2020 and 2023, 72% are sold.

Additional Insights
Of the 11,869 woodframe homes expected to complete between 2020-23, 72% have already been sold. The North Vancouver sub-market has the highest proportion of homes sold at 95%, followed by New Westminster at 94% and Squamish at 90%. Pitt Meadows/Maple Ridge (at 44%) and Vancouver West (25%) are the only sub-markets to have less than half of their woodframe inventory that is expected to complete between 2020-23 already sold.

In terms of contemplated woodframe products, Surrey/Delta/White Rock has the largest number of homes at 10,387 (an 18% increase compared to the January 2020 Snapshot) while Langley/Cloverdale has the second-highest at 6,446 homes (a 6% increase). A notable increase was seen in the number of contemplated woodframe homes in Abbotsford which jumped 36% (from 2,430 in the January 2020 Snapshot to 3,316 in the May 2020 Snapshot). In total, there are 36,600 contemplated woodframe pre-sale homes throughout Greater Vancouver (Squamish to Abbotsford).

Every three months, rennie intelligence provides a Woodframe Multi-family Occupancy update based on the latest data sourced from Urban Analytics' NHS Live database. As part of this update, the number of concrete 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 occupancy reflect direct estimates provided by NHS Live. 

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