Supply Pales in the Face of Record Sales - May 2021
May 19, 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 #16: Supply Pales in the Face of Record Sales - May 2021In this episode, we join members of the rennie intelligence team, Ryan Berlin and Bowen Behan Pausey, along with rennie advisor and pre-sale expert, Reggie Tanzola, to review the latest residential data for the Vancouver Region and discuss these key insights gleaned in April 2021:
- Sales and inventory trends are conspiring to deeply embed seller's markets throughout the Vancouver Region.
- Price gains are not showing signs of reversing and could well perpetuate for some time.
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.