the rennie review - March 2020
Mar 11, 2020
Written byRyan Berlin
Sale prices are rising throughout the Vancouver region in response to sustained demand in the face of increasingly limited supply. While our market is now facing a confluence of economic headwinds, housing fundamentals remain strong. The rennie review is a monthly publication, which includes the latest real estate data for Vancouver and the Lower Mainland’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.