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Vancouver Real Estate Crisis Explained: 25,000 Under-Utilized Units & Developer Stress in 2025
Across Metro Vancouver, an estimated 25,000 housing units sit in various states of market dysfunction — from unsold new condos to stagnant listings to investor properties cycling through tax-driven transitions. This video breaks down what "frozen apartments" actually means, where the real financial stress concentrates (hint: it's developers, not homeowners), and what this signals for BC real estate in 2025-2026.
Using verified data from CMHC, Greater Vancouver Realtors, and RBC Economics, we examine:

📊 Rental vacancy hitting 3.7% — highest since 1988 🏢 2,500+ unsold new condos with projections toward 3,500 by year-end 🏠 12,500+ active listings — lowest sales volume in 20+ years 📉 Condo prices down 7.3% year-over-year 💰 Mortgage delinquency at just 0.19% — no homeowner crisis ⚠️ Developer insolvencies: Landmark Premiere's $100M receivership 🔮 2026 outlook from RBC Economics

IMPORTANT CONTEXT: The term "frozen apartments" is used as a journalistic description for units not functioning normally in the market — NOT as an official statistical category. The 25,000 figure represents an order-of-magnitude estimate combining multiple data sources, not a single certified metric.

SOURCES & FURTHER READING:
CMHC 2025 Rental Market Report: https://www.cmhc-schl.gc.ca/professio...
City of Vancouver Empty Homes Tax Annual Report 2024: https://vancouver.ca/files/cov/2024-e...
Greater Vancouver Realtors December 2025 Market Report: https://www.gvrealtors.ca/market-watc...
Metro Vancouver Housing Data Book 2025: https://metrovancouver.org/services/r...
RBC Economics Canadian Housing Market Forecast: https://www.rbc.com/en/economics/cana...
Canadian Mortgage Professional - Unsold Condos Analysis: https://www.mpamag.com/ca/mortgage-in...
CMHC Residential Mortgage Industry Report (Delinquency Data): https://www.cmhc-schl.gc.ca/professio...
Storeys - Landmark Premiere Properties Insolvency: https://storeys.com/landmark-premiere...
BC Government - Speculation & Vacancy Tax Results: https://news.gov.bc.ca/releases/2023F...

Every claim verified with primary sources.

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Disclaimer:
We’re real estate enthusiasts—not licensed agents, appraisers, or financial advisors. All content is based on publicly available data, market observations, and personal opinions, and is shared for entertainment and general information only. Accuracy isn’t guaranteed. Always consult a qualified real estate professional, attorney, or financial advisor before making any property, investment, or relocation decisions.This video provides fact-based analysis without political bias—just economics, data, and real-world impact on families, developers, and the construction industry.