![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/08\/burnaby-bc-housing-market-vancouver.jpg\")
<\/a><\/p>\nPhoto:\u00a0Bon Bahar<\/a>\/Unsplash<\/a><\/em><\/p>\n Lower Mainland homebuyers will have fewer brand new pre-sale condo units to choose from in August, a new monthly forecast suggests.<\/p>\n MLA Advisory, the research branch of real estate marketing firm MLA Canada, estimates upwards of 600 new pre-construction homes will be released throughout the Greater Vancouver and Fraser Valley region this month as the market undergoes a prolonged cooldown.<\/p>\n That\u2019s down from the more than 1,000 pre-sale units released in August 2018 and represents a 42-percent decline, according to MLA\u2019s July 2019 Pre-Sale Real Estate Insights.<\/p>\n\n \u201cThis year-over-year decrease in inventory is due to a number of townhome projects releasing minimal inventory to test interest within the marketplace in addition to postponed project launches,\u201d reads the MLA report.<\/p>\n Last August\u2019s unit total was bolstered by a number of new higher-density concrete buildings, which are typically taller than their wood-frame counterparts and contain more homes.<\/p>\n Although this August\u2019s overall projected volume is lower, the 600 units are spread across seven new projects, which matches the number of communities launched at this time last year. And a backlog of unsold previously released units also creates more choice for home shoppers.<\/p>\n Of the new units expected to hit the market this month, roughly a third are in townhome and lower-density wood-framed communities in the Fraser Valley.<\/p>\n MLA notes that wood-frame projects are making \u201cgreat strides in the market,\u201d whether in Greater Vancouver or the Fraser Valley.<\/p>\n Between January and July, MLA estimates that homebuyers have entered into contracts to purchase a third of the 1,500 pre-sale condos released in wood-frame projects this year.<\/p>\n \u201cThis is an indication of strong and stable demand from end-users and \ufb01rst-time home buyers searching for value in a more affordable product type,\u201d the MLA report reads.<\/p>\n West Coquitlam, Abbotsford, Delta and North Burnaby are some of the markets MLA says are appealing to homebuyers due to their relative affordability.<\/p>\n “The bright spots in the market continues to show us that well-conceived homes priced competitively and providing value to end users in their markets remain active,\u201d says MLA Partner Suzana Goncalves.<\/p>\n \u201cDeveloper reputation, location including proximity to transit or arterial routes, and strong utility within price ceilings are all top of mind factors for today\u2019s buyers,\u201d Goncalves explains.<\/p>\n Lower Mainland homebuyers will have fewer brand new pre-sale condo units to choose from in August, a new monthly forecast suggests.<\/p>\n","protected":false},"author":23,"featured_media":194852,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2019-08-08T18:00:59Z","apple_news_api_id":"2581141c-7f57-44f8-8ba3-3344cca6c145","apple_news_api_modified_at":"2019-08-08T18:01:00Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AJYEUHH9XRPiLozNEzKbBRQ","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11269],"tags":[],"coauthors":[8692],"apple_news_notices":[],"yoast_head":"\n