A Closer Look Into Current Market Trends and Stats

The Fraser Valley Real Estate market saw a surge in buyers in February that had many believing we were about to shoot out of a cannon into the Spring Market, however, this demand seemed to subside a bit in March.  This is mostly attributed to less consumer confidence with respect to the Bank of Canada's timeline for interest rate drops.  As such, sales were still the second lowest recorded in a decade for the month. What many people are missing is that the fixed rates offered by lenders have decreased significantly in the last few months.  Inventory steadily increased throughout March and we expect it to do so even more in April. This combined increase in options and hesitancy with buyers has most markets in balanced territory.  We like balance; there are opportunities for both buyers and sellers.  Give us a call to find yours.