the rennie advance - April 2019

Buyers largely remained on the sidelines last month, with March 2019 sales at their lowest level for the month in over three decades. Overall inventory is now at its long-run March average as it normalizes from its historical lows of the past few years. As a result of the continued changes to the supply-and-demand landscape, overall median sales prices have sagged by 4% compared to one year ago.

See the latest rennie advance, a summary of sales and listings trends in the Greater Vancouver board area, compiled and released by rennie intelligence ahead of the Real Estate Board of Greater Vancouver Stats.

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intelligence

Buyers continued to feel the pinch of higher and still-rising interest rates in July, with sales dipping for a second consecutive month after four months of increases. With sales down and new listings up, inventory continued to expand at a time of year that’s usually characterized by housing supply…

Ester Hsieh
Personal Real Estate Corporation
intelligence

In March, total MLS sales rose by 50% from February, which was a much larger jump than the typical 28% increase. Last month’s total of 4,022 sales, however, was 25% below the past 10-year March average. Inventory, on the other hand, only increased by 3% from the previous month and ended March 25% b…

Ester Hsieh
Personal Real Estate Corporation
intelligence

The uptick in home-buying activity that was seen in March continued through April, making it two consecutive months of more than 4,000 MLS sales in the Vancouver Region. And thanks in part to inventory only marginally growing in April, conditions once again favoured sellers, thereby continuing to p…

Ester Hsieh
Personal Real Estate Corporation