Market Update - September 2022

The month of September saw continued stability in the Fraser Valley real estate market as sales remained calm and a slight rise in inventory was noted.

Interest rate increases are causing buyers in the Fraser Valley to exercise caution before entering the market and this lack of demand continues to put downward pressure on housing prices. But there’s always a silver lining! 🌥️ If you’ve been kicking yourself for not getting into the market a year ago, you’re in luck. Detached home prices are currently at levels last seen in October of 2021. Turns out you CAN turn back time! 👀⏰