Fraser Market Housing Market Continues To Settle

Robust active listings and relative steady sales activity continued to bring balance to the Fraser Valley, BC, real estate market in August, says the Fraser Valley Real Estate Board (FVREB). There were 1,017 sales in August, an increase of 2.4 per cent compared to July and a 51.3 per cent decrease compared to August 2021. There were 2,045 new listings in August, a decrease of 14.3 per cent compared to July and only 2.9 per cent less than August 2021. The month ended with a total active inventory of 5,871, a decrease of 8.5 per cent from last month but up by 44 per cent compared to August 2021. Once again, August saw a balanced market in the Fraser Valley with an overall sales-to-active ratio of 17 per cent (the market is considered balanced when the sales-to-active ratio is between 12 per cent and 20 per cent).