Leading Market Indicators

Exclusive survey-generated insights into Vancouver's Housing Market.

leading m arketindicators EXCLUSIVESURVEY-GENERATED INSIGHTSINTO VANCOUVER'SHOUSING MARKET

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Published February2025

table of contents

2 INTRO

Each m onth,wecolectvaluableinsightsinto Vancouver'shousingm arketfrom ouradvisors.This inform ation isthen organized and aggregated byour inteligencedivision to shed lighton uniqueresale and pre-saletrends,m arketm om entum and consum erexpectationsnotfound in traditionaldata sources.

3 RESALEMARKET

4 PRE-SALEMARKET

5 MOMENTUM

6 EXPECTATIONS

7 OBSERVATIONS

 Ryan Berlin VP,INTEL IGENCE &SENIORECONOMIST rberlin@ rennie.com



Ryan Wyse MARKETINTEL IGENCEMANAGER &LEAD ANALYST rw yse@ rennie.com

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advisorm arketsurvey

LEADINGMARKETINDICATORS resale market

In line w ith typicalseasonality,there w ere signsofincreased resale m arket activity in January relativeto D ecem berw ith 78% ofadvisorsreporting higher open housetrafic.M eanwhile,thevastm ajorityofadvisors(80%)indicated thattherewasnochangein thenum berofofersoverasking.Theduration of tim ebetw een listing and receiving firstoferw asm ixed,w ith m ostadvisors (41% )reporting thatithad decreased.A l told,resalem arketactivity w as considered stable.

JANUARY2025



STEADY

Inthem ostrecentm onth,com paredtothepreviousm onth,thenum berofshowings/volum eofopenhousetrachas:

openhouse traffic

100%

78%

80%

60%

40%

 VERSUSLASTMONTH

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

11%

● Increased

● D ecreased

● N otchanged

Thenum berofoersperlistinghas:

of fersper listing

80%

60%

44%

40%

 VERSUSLASTMONTH

20%

13%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● Increased

● D ecreased

● N otchanged

Thenum berofoersorsoldpricesthatareoveraskinghas:

number of of fersover asking  VERSUSLASTMONTH tim ebetw een listing and receiving ǡrst offer  VERSUSLASTMONTH

80%

60%

40%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

7% 13%

● Increased

● D ecreased

● N otchanged

Thetim ebetwe nlistingapropertyforsaleand receivingtherstoerofpurchasehas:

60%

24% 35% 41%

40%

20%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● Increased

● D ecreased

● N otchanged

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advisorm arketsurvey

LEADINGMARKETINDICATORS pre-sale market

Pre-sale m arketactivity w asalso stable in January w ith 80% ofadvisors reporting no changein salescentretraficrelativeto D ecem ber.Thevast m ajorityofadvisors(70%+)indicated thatthevalueand prevalenceof incentivesincreased.Realtorincentivesw ereseen asthem ostprevalent(40% ) folowed byotherfinancialincentives(35%)and unit/dealupgrades(20%). O nly4% ofadvisorsreported thatpricediscountswerethem ostprevalent incentives.

JANUARY2025



STEADY

Thenum berofclientvisitstonon-renniepresentation/salescentreshas:

salescentre traffic

80%

60%

40%

 VERSUSLASTMONTH

20% 0%

20%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● Increased

● D ecreased

● N otchanged

Theprevalenceofincentives(altypes,includingrealtor)has:

prevalanceof incentives (AL TYPES,INCLUDING REALTOR)  VERSUSLASTMONTH

80% 100%

71%

60%

40%

29%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

● Increased

● D ecreased

● N otchanged

Thevalueofincentives(al types,includingrealtor)has:

value of incentives (AL TYPES,INCLUDING REALTOR)  VERSUSLASTMONTH

80%

75%

60%

40%

25%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

● Increased

● D ecreased

● N otchanged

Thetypesofincentivescurentlyonoerinclude:

types of incentives on offer

35% 40%

40%

20%

Realtorincentives

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

MOSTPREVALENT

● U nit/dealupgrades

● Realtorincentives

● O therfinancialincentives

● Price discounts

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advisorm arketsurvey

MARKETSENTIMENT momentum

JANUARY2025

O veral,twothirdsofadvisorsindicated thatm arketm om entum picked up in January.M ostadvisors(72%)reported nochangein theam ountof m arketing/lead generation they w eredoing,w hile28% reported an increase. Buyerand selerparticipation rem ained prim arily situational,w ith 63% and 55% ofadvisorsreporting such,respectively.

 UP

Marketm om entum is:

market momentum

100%

80%

67%

60%

40%

 VERSUSLASTMONTH

28% 6%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

● PickingUp

● SlowingDown

● Unchanged

Theam ountofm arketing/lead generationyou’redoinghas:

lead generation

72%

60%

40%

28%

 VERSUSLASTMONTH

20%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● Increased

● D ecreased

● N otchanged

Broadly-speaking,whyareyourbuyersparticipatingintoday’sm arket?

buyer participation

80%

63%

60%

40%

33%

20%

Situational

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

MOSTPREVALENT

● Situational (divorce,los ofjob,kidsm oved out,changingcities,etc)

● O pportunistic (downsizerpriceadvantage,highprices,lim ited inventory,etc)

● Investm ent

Broadly-speaking,whyareyourselersparticipatingintoday’sm arket?

seler participation

80%

60%

55%

40%

27% 18%

20%

Situational

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

MOSTPREVALENT

● Situational (divorce,los ofjob,kidsm oved out,changingcities,etc)

● O pportunistic (downsizerpriceadvantage,highprices,lim ited inventory,etc)

● Investm ent

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advisorm arketsurvey

MARKETSENTIMENT expectations

M ostadvisors(61%)indicated thatbuyerurgencywasunchanged m onth-over-m onth,while33% reported an increaseand 6% adecrease. M eanwhile,83% ofadvisorsreported no changein selerurgency,while17% said thaturgencyincreased.Them ajorityofadvisors(78%)thoughtbuyerprice expectationswererealistic,whileadvisorsweresplit50/50 on whetherornot selerprice expectationsw ere realistic.

JANUARY2025



STEADY

How hasyourbuyingclients'senseofurgencytotransactchanged?

buyer urgency

80%

61%

60%

40%

33%

 VERSUSLASTMONTH

20%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● M oreurgency

● Les urgency

● N ochange

How hasyourselingclients'senseofurgencytotransactchanged?

seler urgency

83%

80%

60%

40%

 VERSUSLASTMONTH

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20% 17% 0%

● M oreurgency

● Les urgency

● N ochange

Areyourbuyers'priceexpectationsrealistic?

buyerprice expectations

78%

80%

60%

40%

 REALISTIC

22%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0% 20%

● R ealistic

● U nrealistic

Areyourselers'priceexpectationsrealistic?

selerprice expectations

60%

50%

40%

 UNREALISTIC

20%

Jan M ar M ay Jul Sept N ov Jan M ar M ay Jul Sept N ov Jan 0%

● R ealistic

● U nrealistic

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advisorm arketsurvey

MARKETSENTIMENT observations Aspartofthesurvey,participating advisorsprovideadditionalfeedback and com m entary on relevantm arkettrends. Below isaselection ofthesecom m ents.

Slowerpre-salem arket.Som edevelopersgiving high credits.O thersarefrustrated and do notwantto give extraincentives.

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advisorm arketsurvey

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