Sale prices
Market Intelligence
This week
Month over month, the total value of building permits in Canada surged 22.1% to $12.4 billion in July, rebounding from two consecutive monthly declines.
For someone looking to buy a benchmark home in Metro Vancouver, the three 25-basis-point cuts by the Bank of Canada thus far in 2024 have collectively increased their purchasing power by $60,000 (all else being equal, of course).
5-year government of Canada bond yields closed the week at 2.719%--an almost 9-basis-point drop from one week ago.
the rennie landscape | Vancouver | Spring 2024
Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context of the real estate market.
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Investors are having an outsized impact on the housing market these days, with fewer investor buyers in both resale and pre-sale, and an increase in tenanted properties listed for sale.
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PODCASTS
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to buy or not to buy (now)?
September 2024 • Episode 67
the art of the pre-sale
August 2024 • Episode 66
kelowna's housing supply, uncorked
July 2024 • Episode 65
inventory glut and interest rate cut
June 2024 • Episode 64