Fraser Valley Real Estate May Market Update
The Fraser Valley Real Estate Market has experienced a remarkable recovery, bouncing back from a 19% year-over-year decrease in sale prices to reach parity within just four months. The main driver is the supply shortage. Another factor that likely contributed to the rebound was the Bank of Canada's decision in March to temporarily halt interest rate hikes, marking the first such pause in 13 months.
The market is eagerly awaiting the upcomming interest rate announcement from the Bank of Canada, which is scheduled for June 7th.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.