the rennie review - August 2019

July’s demand bump supported by strong economic news

It may be only one month of data, but the July increase in residential MLS sales in the Vancouver region serves notice that the contractionary phase of the market cycle may be ending, with an expansion--when it comes--being guided by local economic conditions. 

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The rennie review is a monthly publication, which includes the latest real estate data for Vancouver and the Lower Mainland’s housing market. In addition to presenting detailed neighbourhood-level stats, the rennie review also includes current rennie projects, featured listings, client testimonials, our take on the latest market conditions, and more.

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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

Benchmark prices increased in the Vancouver Region for the second consecutive month, even as borrowing costs remain elevated. The enduring sellers’ market reflects increasing sales counts against a backdrop of stagnant inventory.

Ester Hsieh
Personal Real Estate Corporation
intelligence

After months of a-seasonal trending, the housing market in the Vancouver Region changed course in June, with both sales counts and new listings declining for the first time this year.

Ester Hsieh
Personal Real Estate Corporation