the rennie advance - August 2021
Aug 04, 2021
Written byRyan Berlin
Historically suppressed inventory has limited the available home options for buyers. This has pushed sales counts down, though prices remain relatively stable.The latest rennie advance provides a summary of sales, listings, and pricing trends in the Vancouver region, compiled and released by our rennie intelligence team ahead of the Real Estate Board of Greater Vancouver Stats. 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.
The Vancouver Region recorded a second consecutive monthly increase in sales counts in February, with the expansion exceeding the typical seasonal surge. Market conditions tipped back in favour of sellers despite a boost in the supply of available homes.
The sales slump in the Central Okanagan’s housing market extended into January, with last month marking its eighth consecutive monthly decline in transaction counts.