Well, as you can see from the chart, we have had a considerable decrease in listings this May compared to April and also a decrease in overall sales. We're still in a seller's market and prices are still staying relatively strong, but demand has dropped as well as many people have found themselves getting priced out of the market. Interest rates are still very low so that's helping with the payments, however, with bank of canada increasing the stress test rate next week, this will have an affect on purchasing power.
If you missed reading April's stat package, click below for the complete report regarding the Fraser Valley Real Estate Boards statistics for April. Next week, I'll have the stats for May.
>> Entire March Numbers & Reports <<
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