Historically High Buying Activity Continues - March 2021
Mar 16, 2021
Written byRyan Berlin
The rennie podcast is about the real estate market and the people connected by it. Tune in for monthly discussions making sense of the latest market data and to hear from an array of industry experts helping us answer big real estate questions about demographics, economics, urban planning, and design. Episode #12: Historically High Buying Activity Continues - March 2021In this episode, we join members of the rennie intelligence team, Ryan Berlin and Bowen Behan Pausey, along with rennie advisor, Lorenzo Daminato, to review the latest residential data for the Vancouver Region and discuss three key insights gleaned in February 2021:
- Historically-high demand in February was a feature of all home-type segments and all areas within the Vancouver region
- Home price growth has accelerated due to inadequate supply being available to would-be buyers.
- Market activity is likely to normalize later this year.
Compared to a sluggish December, Vancouver's resale market showed real signs of life in January, with sales counts expanding and new listings surging.
After tallying one of the lowest sales counts on record in January, an easy hot take on King County's residential real estate market is that 2024 has started with a whimper. But dive deeper into the data and it's clear there's more than meets the eyes than just fewer sales.