Tag Archives: BC Real Estate

It’s a supply problem

October sales in the Fraser Valley were off 18% from October of 2020. Will this push prices down?

No, prices are not expected to decrease as the number of new listings received in October dropped a stunning 29% from last year. The total inventory of active listings on the Fraser Valley Real Estate Board MLS is 50% of last year’s inventory. We need more housing – it’s that simple.

Fraser Valley Real Estate Demand Continues

This chart shows the sales of detached homes (houses) in the Fraser Valley and in Abbotsford during the first 20 weeks of 2016 and 2017.

As you can see the number of units sold is off slightly. There is one dramatic dip indicated during week 13 of 2016. This reflects the media storm generated by the bad practices of a few bad apples practicing in the Greater Vancouver market. As a result Christy Clark vowed to crack down on “shadow-flipping” and began an investigation into industry practices. The short duration of the market pause shows the resilience of the region’s market.