the rennie review | July 2023
Jul 13, 2023
Written byRyan Berlin
After months of a-seasonal trending, the housing market in the Vancouver Region changed course in June, with both sales counts and new listings declining for the first time this year.The rennie review is a monthly publication which includes the latest real estate data for the Vancouver Region's housing market. In addition to presenting detailed neighbourhood-level stats, the rennie review also includes current rennie projects, featured listings, client testimonials, our take on the latest market conditions, and more.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.