the vancouver rennie review | December 2024
Dec 12, 2024
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The Bank of Canada used its final meeting of 2024 to implement another 50-basis-point cut. While uncertainty on the direction of the economy and inflation has increased recently, lower interest rates have already changed the trajectory of home sales this fall.
The rennie review is a monthly publication that includes our take on the latest MLS data for the Vancouver Region. In addition to presenting neighbourhood-level stats, it includes information on current rennie projects, a selection of featured listings, and insightful commentary on how and why the market is changing.
Our rennie intelligence team comprises our senior economist, market analysts, and business intelligence analysts. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in real estate dynamics, urban land economics, the macroeconomy, shifting demographics, and data science, their industry-leading data acquisition, analytical systems, and strategic research supports a comprehensive advisory service and forms the basis of frequent reports and public presentations, covering the Vancouver, Kelowna, Victoria, and Seattle marketplaces. Their thoughtful and objective approach embodies the core values of rennie.
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The Federal Reserve cut its key rate by another 25 basis points in December, but expects fewer cuts next year as a result of higher inflation and greater policy uncertainty. This would be a headwind to a more meaningful recovery in housing market activity.
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