Two rate cuts not enough to ignite summer home sales in the Fraser Valley
“Despite two policy rate cuts by the Bank of Canada, buyers are still feeling the squeeze of overall affordability challenges in BC,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “With prices for single-family homes, townhouses and condos holding relatively flat year-over-year, many continue to face challenges buying their first home or moving up in the market, as reflected in seasonally slow August sales.”
“Buyers continue to wait on the sidelines in anticipation of more cuts to the Bank of Canada’s policy rate,” said FVREB CEO Baldev Gill. “However, we encourage anyone looking to get into the market to speak with their REALTOR® and lending professional to fully understand where interest rates may be heading in the coming months to determine the optimal long-term strategy.”
Here is a brief overview in various regions📈📊📉To see more regions contact me at JBaxter@homelifeBC.com I'd be happy to send you more information!
“Despite two policy rate cuts by the Bank of Canada, buyers are still feeling the squeeze of overall affordability challenges in BC,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “With prices for single-family homes, townhouses and condos holding relatively flat year-over-year, many continue to face challenges buying their first home or moving up in the market, as reflected in seasonally slow August sales.”
“Buyers continue to wait on the sidelines in anticipation of more cuts to the Bank of Canada’s policy rate,” said FVREB CEO Baldev Gill. “However, we encourage anyone looking to get into the market to speak with their REALTOR® and lending professional to fully understand where interest rates may be heading in the coming months to determine the optimal long-term strategy.”
Here is a brief overview in various regions📈📊📉To see more regions contact me at JBaxter@homelifeBC.com I'd be happy to send you more information!