CMHC Fall 2025 Housing Supply Report: Key Takeaways for Greater Vancouver
The Canada Mortgage and Housing Corporation (CMHC) has released its Fall 2025 Housing Supply Report, offering an important look at how the market is evolving in Greater Vancouver.
Key Highlights for Vancouver
- Housing starts slowed in 2025: Total starts in the first half of the year were down compared to 2024, driven mainly by a sharp decline in condominium apartment construction. Weak presales have forced many condo projects to pause or cancel, raising concerns about future supply.
- Shift toward rental construction: Despite fewer overall multi-unit starts, rental apartments now make up a growing share of new construction. Developers are moving away from condos toward purpose-built rentals, supported by more favourable financing programs. This is particularly noticeable in areas like New Westminster.
- Policy changes to unlock supply: Both the Province and the City of Vancouver are introducing reforms to accelerate housing delivery. Key measures include:
- Deferring 75% of development-related charges until occupancy (effective Jan 1, 2026).
- Streamlining the approval process so projects aligned with city planning can bypass public hearings.
These changes aim to ease financial pressure on developers and reduce costly delays.
- Resale market supply is growing: Economic uncertainty and slower sales activity have boosted the number of active home listings, now well above historical averages. While this gives buyers more options, it also reflects softer demand in the short term.
Outlook
The report notes that 2025 will remain a weaker year for housing starts, but conditions are expected to gradually improve in 2026 as economic factors stabilize. The increased emphasis on purpose-built rental supply should provide some relief in Vancouver’s tight rental market.
[Read the full CMHC Fall 2025 Housing Supply Report here]
Curious how these trends affect North and West Vancouver specifically? Contact our team today to discuss what the latest data means for your neighbourhood and your real estate plans.