Rates Up, Sales Down-August Market Update

Welcome to August! 

We hope you have been enjoying all the awesome summer weather we have been having lately. 

If you've been following the market, you know that in the past few months the real estate market has shifted from a strong seller's market to a balanced market. Keep reading to find out more. 

This edition includes: 
  • Fraser Valley Housing Market Stats
  • Featured Listings 
  • Recent Sales 
  • Article: B.C. enhances consumer protection for homebuyers
  • Community Events
  • New Video: Living in Grandview Heights, South Surrey, BC

Thank you for reading! 

Derrick, Ryan, Leah and Brian 

Fraser Valley Housing Market Stats 

Sales slide for fourth straight month as rising interest rates put brakes on Fraser Valley real estate market

SURREY, BC – The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.In July, the Fraser Valley Real Estate Board (FVREB) processed 993 sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent from the previous month and a 50.5 per cent drop compared to July 2021, when the province was still in acute pandemic mode. July new listings totaled 2,385, a 28.4 per cent decrease compared to June and a decrease of 1.9 per cent compared to July 2021.

Continue reading the Market Update HERE