The rennie Review: September 2018

Each month our analysts provide insight into the Greater Vancouver Real Estate market, and the rennie Review captures their analysis as well as an update the stats across the region and more information on rennie pre-sale opportunities.  Here is an excerpt of what our analysts had to say about the change in the market over the summer:  

"Benchmark detached prices have now
fallen for three consecutive months, while
those of townhomes and condos have
seen two consecutive months of decline.
It is worth noting that in sum, these
declines have amounted to benchmark
prices falling by 3% for detached over the
three months, and 1% for townhomes and
2% for condos over the past two. Not a
crash by any stretch of the imagination,
but certainly a change in trajectory from
our recent experiences.


And this is where it’s important to consider
these trends with a level head. Otherwise,
it’s easy to fall into the trap of becoming
too dramatic, as the Huffington Post did
recently with their headline "Vancouver
Real Estate Is Starting To Look Like
A Disaster".


Whoa, Nelly. This sort of hyperbole
certainly doesn’t shed much light on
current market conditions, or where the
market might be headed; it only serves
to fan the flames of uncertainty. A critical
assessment of current conditions does
hint that prices may have further to fall—
but, more than anything, this reflects
a normalizing of the market (at least in
terms of sales and listings)." 

Read more in the full rennie Review.

 

Joanne Hoekstra is a Real Estate Advisor with rennie & Associates Realty and currently part of the Tsawwassen Shores sales team. Joanne is experienced in helping buyers find their perfect community and also works with investors building their real estate portfolio. In working with Sellers, Joanne ensures the best customer service from listing through to completion of the sale. She is always on the look out for great investment opportunities. Joanne can be reached at 604-722-6645 or jhoekstra@rennie.com or follow Joanne on Facebook at www.facebook.com/jhoekstra.rennie.

 

 

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