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this week

  • Canada's population declined by 102,000 (0.2%) in 2025, the first recorded decline since Confederation in 1867. This was driven by a more than 460,000 net decline in non-permanent residents. Meanwhile, BC's population fell by 41,000 (0.7%).
  • Employment across Canada has fallen by 112,300 jobs in the first four months of 2026 (111,300 were full-time positions). This is equal to over half of all the jobs gained in 2025 (211,000).
  • There were 3,157 MLS sales across the Vancouver Region in April, up 1.2% year-over-year and 32% below the past 10-year monthly average.
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Podcast

Listen (or watch) as Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) chat with Victoria-based rennie advisor Chris Gill about the Metro Vancouver and Greater Victoria housing markets, which have moved in different directions this year. They look at August's sales and inventory data and what it means for buyers and sellers in each market, then turn to the macro backdrop, including inflation, the Bank of Canada's next move, and why mortgage rates are rising even as the policy rate holds.

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Ryan Berlin, Ryan Wyse, Chris Gill I September 25, 2026

Ferry Different Markets
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Articles

Last Year’s Immigration Policy, Repackaged
Article

Last Year’s Immigration Policy, Repackaged

Aside from a few adjustments, the latest plan is more or less a continuation of last year’s plan.
Some Context on Canada’s Big Jobs Gain in September
Article

Some Context on Canada’s Big Jobs Gain in September

The unemployment rate held firm at 7.1% and the participation rate rose 0.1 percentage points, to 65.2%.
Soft US Jobs Report Raises New Questions
Article

Soft US Jobs Report Raises New Questions

Economists and analysts have been combing over data releases as of late in search of indications on the direction of the economy.
Tariff Inflation Has Arrived in the US
Article

Tariff Inflation Has Arrived in the US

It took several months, but the effects of the import tariffs introduced in April now appear to be materializing in the data.
US Inflation Holds for Now
Article

US Inflation Holds for Now

It’s a consensus view among economists and analysts that import tariffs raise prices for consumers.
The Unwinding of Canada’s Population Boom Has Begun
Article

The Unwinding of Canada’s Population Boom Has Begun

Such a subdued pace of growth is a striking reversal from the recent trajectory seen following the pandemic.
Canada’s Labour Market is Splitting Along Tariff Lines
Article

Canada’s Labour Market is Splitting Along Tariff Lines

The latest Labour Force Survey (LFS) showed little change in Canada’s labour market in May with a modest gain of 8,800 jobs.
Hitchhiker’s Guide to Upcoming Data Releases
Article

Hitchhiker’s Guide to Upcoming Data Releases

We've dedicated considerable time as of late to discussing the ongoing trade war and when its effects would start to show up in the data.
Canada’s Labouring Job Market
Article

Canada’s Labouring Job Market

Other areas of the labour market saw some noteworthy job losses in April, particularly in manufacturing and in wholesale & retail trade.
A Trump in the Road for BC’s Spring Housing Market
Article

A Trump in the Road for BC’s Spring Housing Market

Many of the factors supporting increased housing market activity in 2025 that were discussed at the open of this article remain intact.
Washington’s 10% Rental Cap Heads to Finish Line
Article

Washington’s 10% Rental Cap Heads to Finish Line

As the legislative session ends this week, Washington is close to passing its first rent-increase cap.
A Bittersweet Inflation Reading
Article

A Bittersweet Inflation Reading

Markets breathed a small sigh of relief last week as the latest (March) CPI release came in below consensus estimates.
Trade Tiff Spurs Bank’s Tiff into Action
Article

Trade Tiff Spurs Bank’s Tiff into Action

This morning, the Bank of Canada cut its trend-setting policy interest rate by 25 basis points, bringing it down to 2.75%, its lowest level since August 2022.
Labour Market Stability... For Now
Article

Labour Market Stability... For Now

Canada’s labour market has spent the past few years slowly deteriorating in the face of high interest rates that were in response to high inflation.
The Public (Re-)Privatization of Fannie and Freddie
Article

The Public (Re-)Privatization of Fannie and Freddie

Think of Fannie Mae and Freddie Mac as the lubricants that keep America's mortgage engine running smoothly.
Inflation Is Cooling, but Trade Wars Are Heating Up
Article

Inflation Is Cooling, but Trade Wars Are Heating Up

The Federal Reserve's preferred gauge of inflation, the Personal Consumption Expenditures (PCE) Index, showed inflation edging down to 2.5% in January.
Three Record-Breaking Takeaways from Today’s Homebuyers
Article

Three Record-Breaking Takeaways from Today’s Homebuyers

So much has changed over the past few years—from shifting markets, to evolving work trends, and even to the skyrocketing cost of eggs.
Homebuilders Tap the Brakes in Latest Housing Report
Article

Homebuilders Tap the Brakes in Latest Housing Report

New data shows US housing starts declined in January, reinforcing a broader slowdown that has now stretched into its third year.
BC’s Improving Sales Activity in 6 Charts
Article

BC’s Improving Sales Activity in 6 Charts

Sales in Vancouver have also taken a different trajectory this Fall, though the recovery has not been as prolonged as in Victoria.
Job Seekers’ Pain Could Spell Borrowers’ Gain
Article

Job Seekers’ Pain Could Spell Borrowers’ Gain

This represents the highest level (outside of the pandemic years of 2020 and 2021) since January 2017.
There’s a Concrete Anchor Holding Back Vancouver’s Pre-Sale Market
Article

There’s a Concrete Anchor Holding Back Vancouver’s Pre-Sale Market

Resale and pre-sale markets offer buyers two very different ways to purchase residential real estate.
Inflation Edges Lower as Rate Cut Discussion Heats Up
Article

Inflation Edges Lower as Rate Cut Discussion Heats Up

Rennie intelligence has echoed as much, citing the need for “consecutive meaningful decelerations in inflation”.
US Adds 206,000 Jobs in June, Signaling a Cooling Economy
Article

US Adds 206,000 Jobs in June, Signaling a Cooling Economy

Monthly job additions have averaged 177,000 which, outside of the substantial reduction in job growth.
May’s PCE Measure Reveals Inflation in Retreat
Article

May’s PCE Measure Reveals Inflation in Retreat

This latest print represents a favorable result for the Fed’s ongoing efforts to combat inflation.
May’s Jobs Report Surpasses Expectations, Adding Turbulence to a “Soft Landing”
Article

May’s Jobs Report Surpasses Expectations, Adding Turbulence to a “Soft Landing”

The Fed has made an effort to engineer a “soft landing”, with each data release acting as potential turbulence.
A Common Refrain: It’s All Population Gain
Article

A Common Refrain: It’s All Population Gain

With the latest release of Labour Force Survey data from Statistics Canada, a familiar story emerged.
New Amortization Rules Won't Move the Needle for the Market—or First-Time Home Buyers
Article

New Amortization Rules Won't Move the Needle for the Market—or First-Time Home Buyers

Canada’s federal government has announced that it will soon permit 30-year amortizations (up from 25 years).
What Palm Springs’ Short-Term Rental Restrictions Mean in the Long-Term
Article

What Palm Springs’ Short-Term Rental Restrictions Mean in the Long-Term

The new owner will need to re-apply for a VRC (i.e. the existing VRC is null once a property is sold).
Home Prices Continue to Rise in Metro Vancouver’s Housing Market to Kick Off the Summer
Article

Home Prices Continue to Rise in Metro Vancouver’s Housing Market to Kick Off the Summer

Benchmark price for all home types in Metro Vancouver increased in June as home buyer demand butted up against limited inventory.
Metro Vancouver’s Housing Market Sees Fewer Home Buyers and Sellers in August
Article

Metro Vancouver’s Housing Market Sees Fewer Home Buyers and Sellers in August

This represents a 12.7 per cent increase from August 2021 and a 2.5 per cent decrease compared to July 2022.
Grosvenor Brentwood: “a paradigm shift” for Burnaby
Article

Grosvenor Brentwood: “a paradigm shift” for Burnaby

Grosvenor Brentwood will include 200,000 square feet of commercial space and a 100,000 square foot community centre.
What You Need to Know About Metro Vancouver’s Rental Market
Article

What You Need to Know About Metro Vancouver’s Rental Market

Metro Vancouver continues to have the lowest purpose-built rental vacancy rate among major Canadian markets.
Metro Vancouver’s Housing Market Sets a Steady, Calmer Pace to Begin the Summer Season
Article

Metro Vancouver’s Housing Market Sets a Steady, Calmer Pace to Begin the Summer Season

Last month’s sales were 18.4 per cent above the 10-year June sales average.
Home Buyer Competition Intensifies Across Metro Vancouver’s Housing Market
Article

Home Buyer Competition Intensifies Across Metro Vancouver’s Housing Market

Last month’s sales were 42.8 per cent above the 10-year February sales average.
Shifts in BC’s Political Landscape
Article

Shifts in BC’s Political Landscape

What are the potential implications for housing? Find out in this rennie intelligence report.
Is Mount Pleasant Vancouver’S Next Tech Hub?
Article

Is Mount Pleasant Vancouver’S Next Tech Hub?

Below are a few reasons why Mount Pleasant could be the epicenter of emerging tech companies.
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Inventory remains high in both the resale and new-home segments to close out 2025, pointing to continued opportunities for buyers in the new year.

Ryan Berlin

Chief Economist and VP of Intelligence

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Canada Intelligence-Housing, canada intel, Canada Post-Vancouver, Canada-Vancouver-Intelligence, Canada Intelligence, Canada Intelligence-Podcast, Canada-Podcast, Canada Post-General, General-Podcast, Market Intelligence, Podcast

Ferry Different Markets

Listen (or watch) as Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) chat with Victoria-based rennie advisor Chris Gill about the Metro Vancouver and Greater Victoria housing markets, which have moved in different directions this year. They look at August's sales and inventory data and what it means for buyers and sellers in each market, then turn to the macro backdrop, including inflation, the Bank of Canada's next move, and why mortgage rates are rising even as the policy rate holds.
Canada Intelligence-Kelowna, Market Intelligence, Canada Intelligence-Report, Canada Intelligence-Housing, Canada Intelligence

the kelowna rennie review | September 2026

Wildfires and smoke contributed to a sharp drop in real estate activity in the Central Okanagan in August. This came on the heels of what had been the busiest month of sales in 2026 and the busiest July since 2021. New listings retreated as well, and the region heads into fall with tighter inventory than in either of the previous two years.
Canada Intelligence-Report, Canada Intelligence, Canada Intelligence-Victoria, Canada Intelligence-Housing, Market Intelligence

the victoria rennie review | September 2026

August delivered a larger-than-typical month-over-month drop in Greater Victoria home sales, capping a mixed summer. Inventory reached its highest August level since 2014, but conditions for detached homes are far tighter than for attached home segments.
Canada Intelligence-Housing, Market Intelligence, Canada Intelligence, Canada Intelligence-Vancouver, Canada Intelligence-Report

the vancouver rennie review | September 2026

August delivered another weak month of home sales in the Vancouver Region, and the macroeconomic backdrop has grown less hospitable. With bond yields near 20-year highs, inflation pinned at the top of the Bank of Canada's target range, and an expanding US-Canada trade war, a meaningful stimulus for housing demand through the remainder of 2026 is unlikely. At the current pace, sales are expected to finish the year at their lowest level in over two decades.
Market Intelligence, Canada Intelligence-Victoria, Canada Intelligence-Housing, Canada Intelligence-Vancouver, Canada Intelligence, Canada Intelligence-Report, Canada Intelligence-Kelowna

benchmark prices | September 2026

Benchmark price infographics for detached homes, townhomes, and condos are available for sub-markets in the Vancouver Region, Greater Victoria, and Central Okanagan regions.
Market Intelligence, Canada Intelligence-Housing, Canada Intelligence, Canada Intelligence-Report, Canada Intelligence-Kelowna

the kelowna rennie advance | September 2026

After a relatively active July, sales in the Central Okanagan fell dramatically in August, giving back the early-summer momentum and slipping to their lowest August total in fifteen years. New listings eased quite substantially month-over-month as well, holding below their year-ago level for an eighth straight month. This came against a backdrop of significant wildfire activity and evacuation orders across the region through much of the month, which appears to have weighed on buyer and seller activity alike.

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Market Reports

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April 20, 2026

the seattle rennie review | April 2026
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The Rennie Podcast

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E91
E91
August 2026
43 mins
Digging into Metro Vancouver’s Land Market

Listen (or watch) as Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) are joined by rennie commercial advisor Andrew Hutson to explore a part of the housing market that often doesn't get the spotlight: land.
E90
E90
July 2026
37 mins
Kelowna Housing: The Long and The Short-Term of It

Join Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) as they are joined by rennie Kelowna advisor Rob Breckwoldt to discuss the goings-on in the Okanagan's, and Vancouver's, housing markets. They explore how each market is adjusting to changing conditions, why buyers are becoming more selective, and what record rental supply, evolving investor dynamics, and the short-term rental ban reversal mean for Kelowna.
E89
E89
June 2026
43 mins
The Fine Print in Metro Vancouver’s Buyers’ Market

Join Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) as they are joined by top-performing rennie advisor Danny Chow to discuss the latest resale and new home market trends.
E88
E88
May 2026
34 mins
What People Want in a Home Today

Ryan Berlin (Chief Economist and Vice President of Intelligence) and Ryan Wyse (Lead Analyst and Market Intelligence Manager) are joined by Elaina Cowley (Senior Manager of Product Development ) to explore what buyers and renters are actually looking for right now.
E87
E87
April 2026
30 mins
Spring Landscape: A New Normal for Metro Vancouver's Housing Market?

Ryan Berlin (Vice President of Intelligence and Chief Economist) and Ryan Wyse (Market Intelligence Manager and Lead Analyst) walk through what's shaping the market right now, from a weak labour market backdrop, to population decline, to rising housing inventory. They also look at what record rental vacancy and continued price softness mean for renters, owners, and the market ahead.

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Office

110 - 1650 West 1st Avenue
Vancouver BC V6J 1G1
Canada

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Contact
Office

110 - 1650 West 1st Avenue
Vancouver BC V6J 1G1
Canada