pocket guide
the rennie landscape pocket guide
Q4 2019
This pocket guide presents a summary of key insights associated with the Q 4 2019 edition of the rennie landscape, which tracks and analyzes a range of factors influencing Metro Vancouver’s housing market. Metro Vancouver’s housing market turned a corner in Q3 and continued along its new trajectory in Q4, with six months of increasing year-over-year sales (through December 2019) following 17 consecutive months of year-over-year declines. Many factors contributed to this turnaround, including sustained migration to the region, a fertile labour landscape, and accommodating interest rates--not to mention less-intrusive, and less frequent, housing market policy interventions that are typically accompanied by ensuing uncertainty. In contrast to the story the data told us in Q3, the Q4 narrative is more reserved, with most of the region’s (and the country’s) economic fundamentals remaining positive, if not as strong as they were earlier in 2019. With recessionary fears having moved to the backburner for now, the stage is set for the region to continue its recent trend of continued population and job growth and rising home sales.
economy
NATIONAL AND REGIONAL ECONOMIC GROWTH SLOWED IN Q4 2019 , though the region’s labour market remains strong. Unemployment is low, full-time jobs continue to be added, and wages are rising at close to twice the rate of inflation.
rates
INTEREST RATES REMAIN LOW WITH INFLATION UNDER CONTROL , with little expectation of significant increases in 2020. Borrowers will continue to benefit from the persistence of the low-cost credit environment, which will support Metro Vancouver’s housing market on its new trajectory.
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