Is the Fraser Valley Real Estate Market Finally Slowing Down?

🚨 Fraser Valley Real Estate Market Update - August 2024 🚨

The Fraser Valley housing market is cooling down faster than expected, with July 2024 marking the second slowest sales month in a decade. In this video, we break down the key stats, including a significant drop in sales and a spike in inventory, and what this means for both buyers and sellers.

👉 What You'll Learn:

Why July 2024 saw a 26% drop in sales compared to the 10-year average
The impact of rising inventory levels-up 41% from July 2023
How balanced market conditions are shifting opportunities for buyers and sellers
The current state of benchmark prices and what it means for first-time homebuyers
Tips for sellers to stand out in a crowded market
As we head into the fall, it's more important than ever to keep an eye on changes in borrowing costs and market activity. Whether you're buying or selling, understanding these trends can help you make informed decisions.

💬 Questions? Drop them in the comments below, and don't forget to like, share, and subscribe for more real estate insights!

Mark Trousdell, eXp Realty

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The opinions expressed herein are solely that of Mark Trousdell and not eXp Realty or the GVR and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.