Insight

Slower seasonal sales helped build inventory to its highest level since September 2019 in theFraser Valley in May, creating more balanced market conditions for home buyers and sellers.

The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July.

After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.

The Fraser Valley real estate market saw strong sales activity in June with levels on par with the 10-year average for the month, amid on-going challenges with supply.

The Fraser Valley real estate market saw an injection of supply in May as new listings surged by more than 40 per cent over April.

Despite inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the interest rate hike pause.

House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over month decreases.

The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined.

The average sale price of a Canadian home sat at $626,318 last month, a 12 per cent drop from December 2021, reports the CREA.

The Fraser Valley Real Estate Board (FVREB) processed 716 sales on its Multiple Listing Service® (MLS®) in December 2022, down 14.7 per cent from November.

Fitch Ratings, a leading provider of credit ratings and financial commentary and research warns that Canada’s real estate downturn will continue this year.

The BoC raised its key interest rate to 4.25 per cent this morning. The Bank of Canada has increased its rate seven times this year.

With sales down almost seven per cent from October, and new listings off by more than 20 per cent, the Fraser Valley housing market continues its slowing trend heading into the holiday season.

Last week, Deputy Prime Mininster and Minister of FInance, Chrystia Freeland introduced Bill C-32, the Fall Economic Statement Implementation Act.

Fraser Valley housing market sales for October remained relatively unchanged from last month as prices dipped slightly across all categories.

Canada’s central bank increased its key interest rate to 3.75 per cent this morning. In hopes of fighting inflation, The BoC has raised its policy rate six times since the month of March.

A Canadian recession will come a lot sooner than initially expected, cautioned the country’s oldest and most established bank.

Continued slowing sales and a slight rise in inventory in September combined to bring greater stability to the Fraser Valley housing market.

According to a recent Statistics Canada report, an increasing number of Canadians are renting their homes, rather than owning, as the cost of home ownership soars.

The country’s second largest bank foresees reduced home prices in British Columbia and Ontario

Robust active listings and relative steady sales activity continued to bring balance to the FraserValley real estate market in August.

The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.

Overall sales in the Fraser Valley fell for the third straight month as prices for all property types continued to soften, bringing greater balance to the region’s real estate market.

Before the pandemic, investor demand for real estate was dwindling. But when interest rates were slashed in 2020, investor interest was revitalized.

A new report released by Desjardins’ economics department suggests the country’s housing market is likely to experience a fairly significant correction.

As property sales continue to fall in the Fraser Valley and active listings continue to grow, the region is edging towards more balanced levels not seen since the pre-pandemic period.

Canada’s central bank announced another notable increase to its key interest rate this morning amid ascending inflation

The province’s real estate regulator, BCFSA, has proposed a three business day “cooling off” period to protect buyers.

The Canadian real estate craze has come to a screeching halt and experts see a serious correction looming.

Property sales in the Fraser Valley decreased by over 35 per cent in April 2022 compared to the previous month

Canadian home sales saw their largest decline since last June as increased interest rates have begun to cool the country’s sizzling housing market.

The Canadian real estate market is undoubtedly in a precarious state – and households will now be devoid of CMHC’s guidance.

For the third consecutive month, new listings in the Fraser Valley continued to climb in March giving buyers more to choose from, helping to increase overall active inventory to levels not seen since last July.

The Bank of Canada is expected to bolster its defence against inflation. BMO Capital Markets’ latest forecast shows aggressive rate increases.

According to Oxford Economics, one of the world’s most respected voices on economic forecasts, Canadian real estate prices are in for quite the dip.

With month-to-month new listing increases across several major real estate markets, it appears that the country’s inventory issue is slowly improving.

Increased interest rates will make it more difficult for Canadians to pay down their debt, but tightened policy was necessary to help slow inflation.

Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.

The City of Mission’s Forcemain Project reached an important milestone last week.

Canadian renters saw another year full of affordability concerns as rental prices increased, especially in Vancouver and Toronto.

Canadian home prices saw record growth last month, while a sharp decline to the number of homes listed for sale has resulted in a strained housing market across most of the country.

Variable rate morgage costs expected to double Desjardins latest research note cautions homebuyers Prospective homebuyers […]

Bank of Canada Governor Tiff Macklem believes the pathway to interest rake hikes will rely on if the country’s businesses increase investments.

On the heels of the busiest year in history for Fraser Valley real estate, January activity saw the beginnings of a market rebalancing.

Canada’s central bank decided to maintain its key interest rate at 0.25 per cent earlier today, but warned of impending increases.

Although Canadian real estate is currently mired in a supply shortage, new CMHC data shows 2021 housing starts took quite a leap.

Last month, the consumer price index increased at a pace we have not seen in over three decades, mounting pressure on the Bank of Canada to act.

The province of British Columbia saw a record number of new homes certified for construction last year.

The province of British Columbia is providing some needed relief to millionaire homeowners, as the threshold for the province’s home owner grant was raised.

Fueled by the consumer response to the COVID‐19 pandemic along with historically low interest rates, total property sales in the Fraser Valley in 2021.

As this year comes to a close, we cannot help but give thanks to those have who have put their trust in us.

Canada’s housing affordability has declined to its lowest level in over 30 years as stated in a new report released by RBC Economics.

The country’s house prices increased by more than 25 per cent last month, compared to November of 2020 – a significant increase spurred by supply shortages.

The Bank of Canada held its key interest rate at 0.25 earlier today, as inflation continues to rise.

Robust demand for Fraser Valley real estate continued last month, with the FVREB recording its second highest month for volume of sales.

Canadian homeowners are resorting to their reserves to fund surging expenses as HELOC debt grows rapidly.

The Bank of Canada announced that investors are likely one of the culprits in creating the aggressive home price increases seen across the country.

New CMHC data shows country’s housing starts trend experienced a significant downturn from September to October.

NBC’s latest affordability report revealed how long it takes Canadians to save for down payments on non-condo homes.

Bank of Canada Governor Tiff Macklem wants Canadians to trust that they can bring inflation back down to its target.