Buying in a Cooling Market

The May stats are in and in White Rock, South Surrey, and many other areas, the benchmark prices have dropped.

In South Surrey & White Rock, we've seen:
- Single Family Homes down: .7%
- Townhouses down: 2.1%
- Condos down .9%

A 5-year fixed-rate mortgage at 4.04% today is considerably higher than at the end of 2021 when the same mortgage interest rate was 2.12%.

Borrowing $800K on a $1M home would cost $821 more per month today.

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