INFOGRAPHICS: August 2024 FVREB Fraser Valley Market Reports

Real Estate Landing Pages to Promote Neighbourhoods

Two rate cuts not enough to ignite summer home sales in the Fraser Valley

The Fraser Valley residential resale market slowed again in August, as homebuyers continue to face affordability challenges.

The Fraser Valley Real Estate Board recorded 1,067 sales in August, down by 13 per cent over last month and by 30 per cent over the 10-year seasonal average. August sales were the second slowest seasonally adjusted sales in a decade.
Inventory levels in the Fraser Valley dipped slightly in August with active listings at 8,626, down one per cent from July, but 37 per cent higher than August 2023.

“Despite two policy rate cuts by the Bank of Canada, buyers are still feeling the squeeze of overall affordability challenges in BC,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “With prices for single-family homes, townhouses and condos holding relatively flat year-over-year, many continue to face challenges buying their first home or moving up in the market, as reflected in seasonally slow August sales.”

Read the full report on the FVREB website!

The following data is a comparison between August 2024 and August 2023 numbers, and is current as of September 2024. For last month’s report, check out our previous infographic!

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These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!