Please see the video below regarding the current state of the Fraser Valley resiential real estate market. Buyer fatigue, rising interest rates and a return to "normal" life, as the COVID pandemic fades, are all contributing to a slowing housing market. Sales fell below the 10-year average for April 2022; the first time this has happened in 21 months.
Sales in April 2022 were down 37% compared to the month prior and down 46% compared to April 2021.
Fewer multiple offers, less open house traffic and the average days homes are sitting on the market is creeping up.