Survey Highlights: Royal LePage® expects home prices to remain stable through Q4; forecasts pull-ahead of spring market on expectation of continued easing of lending rates. The national aggregate home price rose a modest 1.6% year over year in Q3 2024, and decreased 1. 1% over Q2. Greater Montreal's aggregate home price increased 5.2% year over year, while the greater Toronto and Vancouver markets showed little change, rising 0.7% and 0.5%, respectively. For the second consecutive quarter, Quebec City recorded the highest year-over-year aggregate price increase (10.5%) in Q3 among the report's major regions. Major markets in the prairie provinces continue to show resilience and strength, as tight supply pushed prices upward in Q3.

The Fraser Valley Real Estate market for July continues to show healthy levels of housing inventory across all property types. Despite this, buyers are still hesitant to re-enter the market. Sales decreased by 6.6% from June, moving the market into Balanced territory. This presents a favourable opportunity for home buyers. If you’re in the market for a home, contact me today.