October 2023 – Fraser Valley Real Estate Market Snapshot
Blustery October Amidst rising interest rates and an escalating cost of living, recent government announcements unveiling legislation for 2024, dictating property uses, have profoundly impacted the real estate landscape. This endeavor to address the province’s housing supply issues has resulted in a decline in sales across all home product types compared to the prior month. […]
September 2023 – Fraser Valley Real Estate Market Snapshot
September Sales Trends In September, sales initially slowed due to the back-to-school rush but rebounded in the latter half of the month. As expected, sales declined compared to August across all product categories. However, compared to September 2022, sales increased by 18 to 24 percent across all product types. This indicates that despite interest rate […]
The Transformative Impact of Technology on Vancouver’s Real Estate Market
Jamie Squires is the President of Fifth Ave Real Estate Marketing.
August 2023 – Fraser Valley Real Estate Market Snapshot
August 2023, Summertime Blues On September 7, 2023, the Bank of Canada (BOC) kept the prime rate at 5%, maintaining it since the last increase in mid-July. Despite the imminent future rate increases to combat inflation, Canadian consumers get a slight break for the back-to-school season. Strategic Homebuying Amidst Steady Rates With rates unchanged for […]
July 2023 – Fraser Valley Real Estate Market Snapshot
July 2023, More Market Uncertainty Bank of Canada’s Rate Hike In mid-July, the Bank of Canada (BOC) increased the prime interest rate to 5%, hinting at a potential further increase in September. Despite inflation dropping to 2.8% after the July hike and stabilizing at 3.3% by August, interest rates are expected to rise until inflation […]
June 2023 – Fraser Valley Real Estate Market Snapshot
June 2023, Uncertainty Bank of Canada’s Rate Hike In mid-July, the Bank of Canada (BOC) raised the prime rate to 5%, with a possibility of further increases in September. This occurs despite inflation stabilizing at 3.4% for May and June. Interest rates are expected to rise until inflation approaches the BOC’s goal of 2.5% by […]
May 2023 – Fraser Valley Real Estate Market Snapshot
May 2023, Changes Are Brewing While last month clearly had a strong sense of equilibrium, the month of May appears to bring changes to the real estate industry and market from every angle. Last month, the Bank of Canada did not move interest rates for two periods; however, they spoke of potential increases that materialized […]
April 2023 – Fraser Valley Real Estate Market Snapshot
April 2023, Balance April clearly represents balance or equilibrium that is slowly starting to weigh more toward the seller’s side. Clear signs of stabilization and confidence can be seen in the Fraser Valley real estate market. The Bank of Canada has continued to hold rates, helping to substantiate this new consumer confidence in our local […]
March 2023 – Fraser Valley Real Estate Market Snapshot
March 2023, Steady Eddy Sales Absorptions on the Rise This month’s statistics show significant increases in sales absorptions compared to the previous month, although most remain lower than the same time last year. Notably, the Bank of Canada has kept interest rates unchanged for two consecutive periods, with talk of rates potentially decreasing soon. Consequently, […]
Mixed-Used Real Estate: A Blend of Housing, Work, Shops, and Social Objectives in One Place
Mixed-use real estate transit-oriented development was once vital for city revitalization across Burrard Peninsula to Fraser Valley. Transformative Projects PCI Group’s journey began with Crossroads in 2008, followed by Marine Gateway in 2016 and King George Hub in Surrey. TransLink’s New Role TransLink now partners directly with PCI for projects at South Granville and Arbutus. […]