Executives in Vancouver's real estate industry are warning of a glut of newly built condos sitting unsold and empty throughout the region. About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC). Advertisement AdvertisementAdvertisement AdvertisementHe said the real estate industry had a really good 20 years, but the recent decline in sales of new condos will have big ripple effects in the labour market. Advertisement AdvertisementAdvertisement AdvertisementHe said the unsold condos are heavily concentrated in Burnaby, Coquitlam and parts of Surrey. (Darryl Dyck/The Canadian Press)Oleg Galyuk, real estate agent with Royal Pacific Realty, said in his experience older condos tend to sell better than pre-sale condos.