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Lagging Inventory Builds Demand as Bank of Canada Signals Hold on Interest Rates
February 14, 2023
REBGV Market Activity – January 2023 The current housing market in Greater Vancouver presents a timely opportunity for astute buyers. As interest rates have risen over the past year, the average home price has experienced downward pressure, leading to a decrease in the average cost of housing and the potential to build equity ...
Continue ReadingFraser Valley real estate sales record slowest annual start in ten years; January new listings lowest in over thirty years
February 2, 2023
SURREY, BC — The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined. With 626 transactions processed on the MLS®, sales were off by 12.6 per cent compared to last month and down by 52.2 per cent compared to ...
Continue ReadingHouse Price Survey: Canada ends 2022 with modest decline in national aggregate home price; prices remain well above pre-pandemic levels
January 17, 2023
According to the Royal LePage House Price Survey released today, the aggregate price of a home in Canada decreased 2.8 per cent year-over year to $757,100 in the fourth quarter of 2022; the first year-over-year decline recorded since the end of 2008 during the global financial crisis. On a ...
Continue ReadingFraser Valley real estate market 2022 — highs, lows, and a return to balance
January 6, 2023
SURREY, BC — In a year that saw prices peak early on, feeding off the momentum of record-breaking sales in 2021, the Fraser Valley real estate market came back down to earth by the close of 2022, due largely to interest rate increases designed to stave off inflation. The ...
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