FVREB Exclusive: No market correction on horizon; prices and sales to stabilize in 2022

2021-10-01T15:03:06-08:00October 1st, 2021|Statistics|

By Bryan Yu, Central 1 Chief Economist As Fraser Valley REALTORS® are aware, your region, along with Metro Vancouver as a whole, has experienced robust demand for housing for much of the past year. The drivers have been well established. A combination of sharp mortgage rate declines and a pandemic shift in household needs propelled [...]

A market of extremes: near record sales in August combined with lowest supply in four decades

2021-09-01T15:22:40-08:00September 2nd, 2021|Statistics|

SURREY, BC – Demand for Fraser Valley real estate remained elevated in August reaching the second highest sales ever for the month against a backdrop of decreasing supply. The Board processed a total of 2,087 property sales on its Multiple Listing Service® (MLS®) in August, an increase of 4.0 per cent compared to July [...]

VIDEO: Softening of the market; but you wouldn’t know it in this part of the Fraser Valley

2021-08-19T12:00:22-08:00August 19th, 2021|Statistics|

For our July ‘Eye on the Market’, we headed to one of the most famous – and sought-after – communities in the Fraser Valley. Cloverdale is the third largest community within Surrey and is famous for it’s rodeo, railway, and historic charm. As Board President, Larry Anderson, explains, certain housing market trends in Cloverdale reflect [...]

Fraser Valley home sales remained steady in July; lowest supply in forty years

2021-08-12T11:16:18-08:00August 4th, 2021|Statistics|

SURREY, BC – Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981. The Board processed a total of 2,006 property sales on its Multiple Listing Service® (MLS®) in July, [...]

Mirroring the weather, Fraser Valley’s hot housing market cooled slightly in June going from a boil to a simmer

2021-07-02T16:09:33-08:00July 5th, 2021|Statistics|

SURREY, BC – Sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) remained robust in June however, for the first time since last September, monthly sales did not break a historical record. In June, the Board processed 2,247 sales on its MLS®, a decrease of 24 per cent compared to May [...]

VIDEO: Our record-breaking sales streak continued in May, but there are signs change is underway

2021-06-24T10:19:47-08:00June 16th, 2021|Statistics|

Another month. Another property sales record for the Fraser Valley. But, as Larry Anderson points out in May’s ‘Eye on the Market’, there are definitive signs that changes in the market are already underway. Hint: home prices. Our Board President headed to two iconic locations in North Delta to showcase our May market statistics. Run [...]

Near record-breaking new listings in the Fraser Valley not enough to match insatiable buyer demand

2021-06-02T07:47:48-08:00June 2nd, 2021|Statistics|

SURREY, BC – Fraser Valley’s extraordinary pandemic real estate market continued to break sales records – for the ninth consecutive month – while at the same time, reaching near-historic levels of new listings in May. In May, the Fraser Valley Real Estate Board (FVREB) processed 2,951 sales on its Multiple Listing Service® (MLS®), an increase [...]

How to prove to your sellers the market is changing

2021-05-28T09:24:14-08:00May 26th, 2021|Statistics|

You know, but how do you convince your sellers?We’re hearing anecdotally from REALTORS® that the market is shifting. Demand remains very high for certain property types in a number of locations, but as more supply comes on stream, it is helping to soften the frenzy. Members are telling us that they’re seeing fewer inquires [...]

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