12:54 PM Feb 2, 2023
“Buyers are understandably cautious, which explains the slow start to the year,” FVREB President Sandra Benz said. “That said, the pent-up demand that has been building since the last quarter of 2022 will likely give rise to a sales uptick, especially if rate hikes subside, which we expect will be the case.”
Regarding inventory, Benz said that the FVREB is expecting numbers to increase in the coming months as sellers who have been perhaps put decisions on hold finally act, which should increase the selection of property types as well as demand.So, is the Fraser Valley real estate market leaning towards buyers or sellers at the moment?
With 626 sales and 4,118 active listings as of January, the sales-to-active-listings ratio is 15.2%, indicating that although activity is off to a slow start, it’s at a fairly good balance. In December, the ratio was at 18.2%, perhaps indicating movement towards favoring buyers.-listings ratio, where 40% or lower is considered a buyers’ market, 55% or higher is considered a sellers’ market, and a ratio in between viewed as balanced.
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