the rennie advance - July 2020

At nearly 2,500 sales, this June marked the first month with a year-over-year increase in sales since pandemic restrictions came into place in mid-March. Inventory remained constrained and prices rose both month-over-month and year-over-year.

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

Our rennie intelligence team comprises our in-house demographer, senior economist, and market analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in urban land economics, community planning, shifting demographics, and real estate trends, their strategic research supports a comprehensive advisory service offering and forms the basis of frequent reports and public presentations. Their thoughtful and objective approach truly embodies the core values of rennie. 

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intelligence

The typical October spike in sales was absent from the Vancouver Region’s housing market as high interest rates continued to weigh on demand. Instead, it was the supply side of the ledger that saw an increase last month—another seasonal anomaly.

Jake Kim
RENNIE ADVISOR
intelligence

Benchmark Price Infographics for detached, townhomes, and condos in the areas of the Vancouver Region covered in the monthly rennie review.

Jake Kim
RENNIE ADVISOR
intelligence

Both our housing market and our labour market are showing signs of being impacted by the virtually unprecedented upward march of interest rates that began at the beginning of 2022. These changes will bring some challenges, but they may also usher in a period of moderating borrowing costs.

Jake Kim
RENNIE ADVISOR