Rennie Review – January 2018
Each month, Rennie Market Intelligence produces the Rennie Review, which includes the latest real estate data for Vancouver and the Lower Mainland’s housing market. In addition to presenting detailed neighborhood-level stats, the Rennie Review also includes current Rennie Marketing Systems projects, featured listings, client testimonials, our take on the latest market conditions, and more.
After starting the year somewhat subdued, market activity picked up through the latter half of 2017, with continued in-migration and a strong local (and provincial) economy yielding above-average levels of demand for housing. Unfortunately for buyers, resale inventory didn’t keep up with demand, falling to historic lows within the region’s multi-family segment, and driving prices up throughout Greater Vancouver. However, while benchmark prices increased for all types of homes in 2017, overall market activity may be somewhat slower coming out of the gate in 2018 in response to the recently-implemented mortgage stress test for uninsured borrowers.
For your reading pleasure, please click here for the January 2018 edition of the Rennie Review