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BCREA: Market Update for November 2023

The British Columbia Real Estate Association is out with it's latest video. It provides a market update regarding the November 2023 residential real estate market stats.

See the video below:

A couple of key points worth noting from this update include:

  • mortgage rate levels have kept buyer demand at bay
  • province-wide sales count was about 25% below normal for this time of year
  • the provincial sales to active listings ratio remains in balanced territory (this trend was seen in the Fraser Valley also)
  • despite more active listings and higher mortgage rates, home prices across the province have been surprisingly resilient

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