the rennie advance - May 2022

highlights • Asexpected,MLSsalesintheVancouverRegiondeclinedinAprilfromMarch’selevatedlevel, thoughthedrop(of30%,to4,826sales)wasmarkedlyhigherthanthetypicalseasonaldeclineof 4%.Lastmonth’ssaleswerealsodownby38%from2021’srecordAprilsales(of7,793);they were,however,only1.1%lowerthanthepast10-yearAprilaverageof4,877. • Salesdecreasedonamonth-to-monthbasisacrosalhometypesinApril,withdetachedhome salesfalingthemost,at32%,folowedbytownhomeandcondosales,whichweredown29%and 28%,respectively.Notsurprisingly,salesofeachhometypeweredowncomparedtothistimelast year,ledbydetachedhomes(down48%)andfolowedbytownhomes(down44%)andcondos (down25%). • Thebiggestdriveroftherelativelysignificantyear-over-yeardeclinesinsalesintoApril2022is therecordleveloftransactionsrealizedinApril2021.

THERENNIEADVANCE sales

APRIL 202

4,000

-48% vsApr2021

3,500

3,000

2,500

2,000

2,135 10 yrAprAvg

1,500

1,578

1,000

DETACHED sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0 500

-26% vs10yrAprAvg

﹍ 10 yrAprilAverage

● April

-44% vsApr2021

1,000 1,200 1,400 1,600

897 10 yrAprAvg

200 400 600 800

903

TOWNHOME sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0

+0.6% vs10yrAprAvg

﹍ 10 yrAprilAverage

● April

3,500

-25% vsApr2021

3,000

2,500

2,000

2,249

1,749 10 yrAprAvg

1,500

1,000

CONDO sales

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 0 500

+29% vs10yrAprAvg

﹍ 10 yrAprilAverage

● April

Copyright©May2,202renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofMay2,202.AldatafromRealEstateBoardof GreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipient oftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtained fromarenieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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