the rennie landscape - Spring 2023


We are pleased to present our Spring 2023 edition of the rennie landscape.

It’s striking just how much of the past year has been defined by a single issue: inflation. Today, too-high inflation remains outside of the Bank of Canada's target range despite the central bank's forceful response to it vis-a-vis raising interest rates, which has required borrowers, savers, and spenders to adjust their behaviours on the fly.

As we progress through 2023, we're all wondering if the Bank of Canada is finished raising interest rates. If it is, how long will rates stay elevated? If it isn't, how many more hikes can we expect (and tolerate)? From there, what does it mean for our housing market in terms of sales, listings, and prices?

Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence our housing market here in Metro Vancouver. 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.

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

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

Joanne Hoekstra
RENNIE ADVISOR
intelligence

Buyers and sellers both ramped up their participation in Metro Vancouver’s housing market in May, with sales and new listings reaching levels not seen in at least a year.

Joanne Hoekstra
RENNIE ADVISOR
intelligence

Prices continued to climb in May, with the Vancouver Region recording its first month of over 5,000 MLS sales since March 2022. New listings are gaining steam, it’s true, but overall supply remains low, which continues to tilt the real estate landscape toward sellers as we head into the summer sea…

Joanne Hoekstra
RENNIE ADVISOR