Slowing Home Sales Brings Fraser Valley Market To A Balance

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Howard is a Staff Writer based in Vancouver. He was formerly the Deputy Editor of 604 Now, and has written about the media industry for OneZero and international politics for WhoWhatWhy.

The Fraser Valley housing market has now reached a more healthy balance after September saw sales slow down and new listings rise, according to newIn September, the Fraser Valley region recorded a grand total of 1,100 home sales after seeing 1,273 homes sold in August. The September 2023 total was still a 22.6% improvement when compared to September 2022, however.

"With inventory levels continuing on a slow and steady rise, together with slow sales, what we are seeing is a more balanced market," said FVREB Chair Narinder Bains. "If this trend continues, increased new listings will help to maintain a balanced market, giving buyers greater choice.

With 1,100 home sales and 6,532 total active listings, the sales-to-active-listings ratio is now at 16.8%, after being at 20.2% in August, indicating a balanced market, with movement towards the direction of buyers.

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