the rennie advance - February 2021
Feb 02, 2021
Written byRyan Berlin
After a record-setting second half of 2020, January 2021 continued the trend of historically-high sales counts, constrained inventory, and accelerating price increases--especially for ground-oriented homes.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 sales slump in the Central Okanagan’s housing market extended into January, with last month marking its eighth consecutive monthly decline in transaction counts.
Compared to a sluggish December, Vancouver's resale market showed real signs of life in January, with sales counts expanding and new listings surging.