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Nov 6, 2024

Fraser Valley home sales surge following interest rate cut

The Fraser Valley real estate market saw a significant rebound in October with a 35% increase in home sales compared to September, ending a five-month decline. This surge follows the Bank of Canada’s recent interest rate cut.

 

Despite a dip in new listings, overall inventory remains higher than last year, contributing to a balanced market. Benchmark prices continued their downward trend, with a 0.7% decrease from September.

 

Experts suggest this may be the beginning of a market shift, and note that further interest rate cuts and sustained buyer activity will be key indicators in the coming months.

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