Fraser Valley Home Sales Continue Decline

The downward trend in Fraser Valley, BC, real estate sales continued in January as additional interest rate hikes caused buyers to remain cautious. There were 626 home sales in January. Sales were off by 12.6 per cent compared to last month and down by 52.2 per cent compared to January of last year. New listings increased 128.3 per cent over last month to 1,833, but remain at the lowest level of supply since January 1984. Active listings rose slightly, up five per cent to 4,118 over December and up by 76.6 per cent compared to January 2021.