Just built and pre-sale luxury condos in Downtown Vancouver are a difficult sale right now. Inventory is growing and prices are continuing to slide. Many of these buyers are going to be looking at substantial losses on these units when they finally do sell. The main culprit is the massive spike we have seen in borrowing costs. Many of these homes were bought with the expectation they could be flipped at a profit. In other situations the sellers' plans have changed and now need to sell. Some of these new strata have as many as 60 listings and the developers still have units for sale as well. Some sellers are doing large reductions in hopes of cutting in front of the competing units to get them sold.