Vancouver approved over 12,500 new housing units in 2025, surpassing its target of 8,300 and provincial requirements. Most approvals were rental units, totaling 10,277, well above targets, while condo approvals lagged at 901 units. Below-market social housing approvals were below target, with only 719 units approved. Over 3,000 rental and social housing units were completed, marking the best rental housing year in 40 years. Economic uncertainty poses challenges for sustaining construction.