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January 2023 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.
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DECEMBER PRE-SALE MARKET CLOSES OUT THE YEAR STRONG
As expected, December inventory levels were down allowing for a strong same month sales absorption.
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The last month of 2022 wrapped up a year of increasingly suppressed market activity. 2022 began by building on the steam of a strong 2021 market, with consumer confidence resurging post-pandemic, fuelled by historically low borrowing rates.
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With 2022 wrapping up, the entire real estate industry has been weighing the same question: what will next year look like? As we step off the rollercoaster that was 2022, having a general lay of the land for 2023 is quite reasonably top of mind for many.
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As with the rest of the country, the real estate industry was relieved to see a more moderate 50 basis point announcement from the Bank of Canada on December 7th. This brought some cheer to the market after a darker November.
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NOVEMBER 2022 FRASER VALLEY PRE-SALE REAL ESTATE MARKET INSIGHTS
"It looks like the tail end of the year finds the Fraser Valley housing market continuing to slow – the higher you fly, the harder you fall, and that seems to be a bit of the story this year in the Valley.
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November 2022 Pre-Sale Real Estate Market Insights
"Programs with well-positioned and adjusted pricing and offering terms for the current market landscape
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The past year has come with its fair share of movement in Greater Vancouver's and Fraser Valley's real estate markets.
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The MLA Black Book is a quarterly detailed overview of the pre-sale real estate marketplace spanning the Greater Vancouver and Fraser Valley regions.
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This past month has seen a fair amount of change in government bodies both municipally and provincially. With a municipal election that saw a major shake-up take place and the confirmation of a new provincial NDP leader and Premier, the Vancouver area is in a state of change and flux.