Market Update - May 2022

The month of May saw a continued increase in the number of listings and brought more balance and calmness to what had been an unprecedented hot market during the covid era.

As people begin to settle into post-pandemic work and life, home sales have continued to slow down in the Fraser Valley. For the first time since September 2019, benchmark prices for all 3 property types decreased month-over-month. But there’s no need to panic! Despite the dip in prices compared to last month, home values are still approximately 30% higher than they were in May 2021.