Royal Lepage Q2 2022 House Price Update and Market Forcast. Increased supply and slowing sales push Greater Vancouver toward balanced market for the first time in more than two years. Some of the heat that was driving the market cooled during the quarter as rising interest rates coupled with economic uncertainty undermined consumer confidence and pushed buyers to the sidelines,” said Phil Soper, president and CEO of Royal LePage. “We have significantly reduced our outlook for 2022, however home prices are still forecast to end the year higher than 2021 and well above pre-pandemic norms.

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Read the full FVREB Stats package. Real Estate sales decreased for the third consecutive month in June. Inventory levels were 4.7% higher in June than in May. With the 5yr fixed interest rate at its highest level in over a decade and more to come this month we may see further slowing of sales and prices in the months ahead. Overall, it's a balanced market for detached homes and a sellers market for townhomes and apartments, presenting a great opportunity for those that can qualify that want to upsize to a detached home. If you're considering a move contact me. https://buff.ly/3maW2Ff

Fraser Valley Market update June 2, 2022 In May, Fraser Valley homes sales cool, inventory has increased resulting in a softening of home prices, bringing a balance to the market that has not been seen since prior to the pandemic. Sales of all property types were down 16.9% from April and down 53.9% from May last year.  MLS® HPI Benchmark Price Activity. Single Family Detached: At $1,712,500, the Benchmark price for an FVREB single-family detached home decreased 2.4 per cent compared to April 2022 and increased 26.2 per cent compared to May 2021. Townhomes: At $918,900, the Benchmark price for an FVREB townhome decreased 1.4 per cent compared to April 2022 and increased 31.3 per cent compared to May 2021. Apartments: At $581,400 the Benchmark price for an FVREB apartment/condo decreased 1.1 per cent compared to April 2022 and increased 30.0 per cent compared to May 2021. There are opportunities in every market and especially a changing market. Its an excellent time to consider upsizing. I'm connected to up-to-date information and understand the trends, contact me when someone you know is looking for a realtor!