May Market Stats released... market is cooling

(June 02, 2022 )

The Fraser Valley Board just released the May Housing Market Stats which show home prices softening as the market cools with lower sales and higher inventory.

“Since March, we’ve seen sales come down with an accompanying increase in inventory, subsequently restoring much-needed balance and cooling our heated market,” said Fraser Valley Real Estate Board President, Sandra Benz. “While still early, it suggests that as we gradually settle into a post-pandemic state of work and life, the big pandemic-era drivers – working from home and record low interest rates – may have run their course.”

With the market cooling, and interest rates predicted to rise again, what does this mean for you if you were thinking of buying or selling this year? 

Call Joanne to find out more information…   604-309-5453