Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

I came across the story below discussing the growing trend towards an exodus from urban centres, like Vancouver.  The article contained a couple of interesting findings...


"A recent Leger Marketing survey conducted for ReMax found that one-third of Canadians polled in July said they no longer want to live in large urban areas and instead would opt for rural and suburban communities. The survey also says 44 per cent of Canadians want a home with more space for personal amenities, such as a pool,...

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The Bank of Canada today announced that it was keeping it's key overnight lending rate steady at 0.25%.  This means the rate that variable rate mortgages are based off of remains on hold.  The BOC suggested that their lending rate would remain low for a very long time still.


There is no expectation of any interest rate increase from the Bank at least until 2022 at the earliest.


Low mortgage rates have been and look to likely remain very supportive of the hot housing market in the Fraser...

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Following up on my last blog post, regarding August 2020 housing market stats, it's worth focussing in on detached home sales.


Fraser Valley residential real estate in August 2020 showed a very high level of demand for detached houses.  


For example, detached house sales were up by the following (August 2020 vs August 2019)


ALL AREAS COMBINED - UP 72%


ABBOTSFORD - UP 92%


MISSION - UP 69%


WHITE ROCK / SOUTH SURREY - UP 86%


LANGLEY - UP 51%


NORTH DELTA - UP 31%


CITY OF SURREY (COMBINED) -...

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*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

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