the rennie advance - April 2022
Apr 01, 2022
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Ryan BerlinSHARE THIS
Cherry blossoms and cheery buyers came out in droves in March, with sales approaching 7,000 regionally. In what is a positive trend for the market, inventory continued to rise, though it remains low at the onset of what is expected to be a busy spring market.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.
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The Central Okanagan was the only major market in BC to register a year-over-year increase in sales in February, posting its most active February in 4 years. Though inventory remains substantially higher than long-run average levels, there were fewer active listings at the end of the month when compared to the previous February.
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The Desert experienced its largest January-to-February increase in sales in at least a decade, resulting in the highest sales count for any February since 2022. Alongside subdued new listings activity, inventory levels retreated even further below average.
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