December 2022 Fraser Valley Real Estate Market Insights
Welcome to the January 2023 episode of the Fraser Valley Presale Pulse, a real estate show brought to you by hosts Ryan Lalonde and Brittany Reimer. Watch the video to understand the latest macroeconomics, pre-sale, and resale trends over the last 30 days affecting the local real estate market across the Fraser Valley.
"Over a third of presale programs launched in 2022 was in the first quarter as both developers and purchasers wanted to capitalize on interest rates while they were low. Given that low-interest rates and work-from-home policies were such a big driver of market activity in the Fraser Valley over the last two years, it makes sense that the market began to have cold feet when both these trends began to change." - Brittany Reimer, Managing Director, Fraser Valley.
This episode covers the following:
- Annual Fraser Valley Valley pre-sale real estate market statistics and performance by product type
- The shift in buyer demographics between 2021 and 2022 seen in the Fraser Valley
- What to expect in 2023's pre-sale market in the Fraser Valley
- December's resale activity and how it fell 60% below the previous year
- Perspective on 2022's annual resale results with just over 15,000 transactions, achieving just half of last year's performance