the rennie landscape - Spring 2022

Despite having collectively endured much tumult and change over the past 2 years, Metro Vancouver is decidedly in a much better place today than in those early months of 2020. And though clouds of uncertainty have recently accumulated—brought about by war in Europe, generationally-high inflation, and rising interest rates—we note that our labour market is strong, employers (generally) feel positive about business conditions and are looking to hire, and our province is poised for record population growth this year and beyond.

The current edition of the rennie landscape explores many of these topics and more. We hope that you not only find it useful in your practice, but enjoy reading it, too.

Twice a year, rennie intelligence produces the rennie landscape, that tracks a variety of demographic and economic indicators that directly and indirectly influence our housing market here in Metro Vancouver. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context for the real estate 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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Sales, inventory, and prices in the Vancouver Region all increased in February.

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By the end of December, the Vancouver Region had set all-time records for the most sales, the lowest inventory, and the highest prices.

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An increase in new listings in the Vancouver Region in 2022 has lifted inventory out of the record-low territory it had occupied since July 2021.