Fraser Valley Home Sales 🏡📉 Fall Despite Rate Cut 📉💲

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Exciting updates from the Fraser Valley real estate market! 

🏠 Despite the recent 25 basis points rate cut by the Bank of Canada, home sales didn't see a boost. Here’s a quick breakdown:

• 📉 Home sales in June dropped 13% from last month and over 30% from last year. 
• 🏡 Inventory continues to grow, with 8,350 active listings, the highest in five years.
• 💲 Prices remain relatively flat, but well-priced properties are still selling within three to four weeks.
• 📊 New listings dropped by 9% from May, with a balanced market indicated by a 16% sales-to-active listings ratio.

Full details here: https://tinyurl.com/Fraser-Valley-MarketJune-2024

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