Rate Cut Not Enough To Spark Fraser Valley Market Activity In June

​Inventory in the Fraser Valley has continued to build up for the sixth straight month while home sales remain soft.

For the sales-to-new-listings ratio, a ratio of 40% or lower is considered a buyers' market, a ratio of 55% or higher is considered a sellers' market, and anything in between is considered a sign of market balance. With 1,317 home sales and 8,350 total active listings after June, the sales-to-active-listings ratio is now at 15.7% after being at 19.2% following May, indicating that the market may still be fairly balanced, but with movement toward favouring buyers.Following June the composite residential benchmark price is now $1,528,900 for single-family homes, $851,100 for townhouses, and $551,100 for condominiums.

The next opportunity for a spark in the market will be Wednesday, July 24, when the Bank of Canada will make its next interest rate announcement.The Horizon 21 project at 837 Lougheed Highway and 218 Blue Mountain Street in Coquitlam was being developed by Centred Developments.A provincial announcement from Friday highlights that 2025’s cap represents the lowest rate in the country and comes in below the average inflation rate of 3.1%.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rate cut not enough to get most Canadians off housing market sidelines: pollDespite an interest rate cut from the Bank of Canada, most Canadians say they'd need to see more easing in borrowing costs before they're able to take a run at the housing market.
Source: GlobalCalgary - 🏆 50. / 61 Read more »

One interest rate cut won’t be enough to lift Ontario’s battered cottage marketBuyers and sellers remain at odds over the value of waterfront homes after a pandemic boom and tumble
Source: globeandmail - 🏆 5. / 92 Read more »