13 January 2024

Happy New Year – 2023 Market update!

by Julia Thompson

Happy New Year! We would like to share our December 2023 EYE ON THE MARKET! Home sales in the Fraser Valley dropped six per cent in December, capping off a year that saw the lowest annual sales recorded in the Fraser Valley in 10 years. High interest rates kept a lid on sales in 2023 and price growth was held to five per cent. As REALTORS® know, it was a tough year for buyers and sellers who spent most of the year on the sidelines, waiting for signs the Bank of Canada would lower interest rates, or, at the very least, hold rates steady.

We are looking forward to a busy market for 2024 and hopefully some relief and reduction in the interest rates to help our real estate market. Call us with any questions Ann & Julia Thompson 604-618-7142

CENTURY 21 Coastal Realty Ltd.

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#105-7928 128th Street, Surrey, BC V3W4E8

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julia.thompson@century21.ca

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