Fraser Valley housing market sees marked slowdown in August

In August, the Fraser Valley real estate market experienced a marked deceleration due to seasonal trends and caution over the Bank of Canada’s policy decision. Home sales decreased by 6.9%, new listings fell by 8.2%, and active listings rose by 1.5%. Benchmark prices were generally steady, with single-family detached homes averaging nearly $1.535 million, townhomes averaging $846,200, and apartments averaging $553,500. Despite the slowdown, the FVREB expects market activity to pick up heading into the fall months.