the rennie advance - June 2019

highlights • At 2,645, there were more sales in the Greater Vancouver board area in May 2019 than in any of the previous 12 months. • The 44% increase in sales between April and May was significant, as it compared to an average increase of 6% between these two months over the past decade. • The month-over-month surge in buying activity saw sales move closer to last year’s levels. This resulted in the sales gap closing for the 5th consecutive month: May 2019’s sales were 6% belowMay 2018—far below April’s sales gap of 29%. • On a year-over-year basis detached sales were down by 1.3% and condo sales were 16% lower; townhome sales were up 2%.

sales THE RENNIE ADVANCE

MAY 2019

2,500

May

vs 10yr May Avg 35%

2,000

10yr May Avg 1,421

1,500

1,000

918

DETACHED sales

vs May 2018 1.3%

500

0

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

0 100 200 300 400 500 600 700 800

vs 10yr May Avg 22%

May

10yr May Avg 529

412

TOWNHOME sales

vs May 2018 2%

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2,500

May

vs 10yr May Avg 16%

2,000

10yr May Avg 1,481

1,500

1,248

vs May 2018 12%

1,000

CONDO sales

500

0

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

CurrentasofJune3,2019.Alldata from theRealEstateBoardofGreaterVancouver.The informationsetoutherein (the “Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent, warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipient of the informationshould takestepsas the recipientmaydeemnecessary toverify the informationprior toplacingany relianceupon the information.The informationmaychangeany timewithoutnoticeorobligation to the recipient fromRAR&RMS.

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