rennie intelligence insights - January 2021
Jan 14, 2021
Written byRyan Berlin
The rennie podcast is about everything real estate for the real estate interested. 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 #9 - rennie intelligence insights - January 2021In this episode, we join members of the rennie intelligence team, Ryan Berlin and Bowen Behan Pausey, to review the latest residential data for the Vancouver Region and discuss three key insights gleaned in December 2020:
- After a somewhat convulsive journey, 2020 gave the appearance that it was an “average” year in hindsight. The full-year sales count in 2020 was only 4% higher than the past-decade average.
- 2020 ends with a bang! With more than 5,000 sales in December, it was the most active December in our region's history.
- 2021 is poised to be a dynamic year. The regional housing market will be influenced by a variety of factors, from immigration to interest rates.
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.