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 ...

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Fraser 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 ...

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House 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 ...

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Fraser 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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