Advantage buyers… in Fraser Valley’s housing market SURREY, BC – Below average home sales combined with a regular influx of new listings continue to give buyers the upper hand in communities south of the Fraser River, including Mission. However, according to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, “There is action when the property is competitively priced. “It is not a quiet market. Priced?right properties are selling thanks to the c ... Full Article...

THE FRASER VALLEY REAL ESTATE BOARD TURNS 90 Founded in 1921 as the "New Westminster Real Agents? Association", the FVREB took on its current name in 1979 after multiple name and boundary changes through the years. SURREY, BC ? Although the Fraser Valley Real Estate Board (FVREB) was first established on the north side of the Fraser River and underwent five name changes during its rich 90-year history, its mission to serve local REALTORS® and the public has remained constant. On October 19, 1 ... Full Article...

More listings, fewer sales keeping lid on home prices in the Fraser Valley SURREY, BC – Property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in September were the third lowest for that month in the last decade, while new listings for September ranked the second highest. Sukh Sidhu is FVREB’s president. “This is the third month in a row based on the 10?year average where we’ve seen lower sales combined with a higher influx o ... Full Article...

HOME SALES IN FRASER VALLEY HOLD STEADY IN AUGUST (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July. Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “We typically see a summer dip in sales in August compared to July and that didn’t happen this yea ... Full Article...

RATIO OF PROPERTY SALES TO INVENTORY REMAINS STABLE IN THE FRASER VALLEY (Surrey, BC) – For three consecutive months, the percentage of properties sold in the Fraser Valley compared to those that were available for purchase has remained at 16 per cent, reflecting a balanced market starting to favour buyers. In June, the Fraser Valley Real Estate Board processed 1,588 property sales on its Multiple Listing Service (MLS®), while at the same time had 9,758 active listings available. S ... Full Article...

FRASER VALLEY HOUSING MARKET SHOWS LOCAL VARIATION (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,608 property sales on its Multiple Listing Service (MLS®) in May, an increase of 9 per cent compared to 1,477 sold during May of last year, and an increase of 6 per cent compared to April’s 1,516 sales. Sukh Sidhu, president of the Board, reports, “Overall, the Fraser Valley market is in a balanced position, however there are significant differences amongst i ... Full Article...

APRIL HOME SALES RETURN TO BALANCE IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,516 property sales on its Multiple Listing Service (MLS®) in April, a decrease of 15 per cent compared to 1,793 sold during April of last year, and a decrease of 17 per cent compared to March’s 1,818 sales. Sukh Sidhu, president of the Board, explains, “April’s sales are pretty typical for that month over the last two decades with the 20-year average b ... Full Article...

MARCH HOME SALE ACTIVITY REACHES 5-YEAR HIGH IN FRASER VALLEY (Surrey, BC) – Last month, Fraser Valley REALTORS® experienced their busiest March in terms of sales on the Multiple Listing Service®, since 2006. The Fraser Valley Real Estate Board processed 1,818 property sales in March, an increase of 16 per cent compared to 1,565 sold during March of last year, and an increase of 42 per cent compared to February’s 1,279 sales. In March of 2006, there were 2,072 sales. Sukh Sid ... Full Article...

EARLY SPRING SURGE IN SALES & NEW LISTINGS IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,279 sales on the Multiple Listing Service® (MLS®) in February, an increase of six per cent compared with 1,204 sold during February 2010, and 53 per cent more than the 834 listings that sold last month. Sukh Sidhu, Board president, confirms the market is more active earlier than expected. “Fraser Valley REALTORS® are busy. We sold 659 detached homes last m ... Full Article...

For immediate release: February 2, 2011 INCREASE IN LISTINGS ADVANTAGEOUS FOR FRASER VALLEY BUYERS (Surrey, BC) – The Fraser Valley Real Estate Board reports an increase in listing activity and steady sales for the first month of 2011. Deanna Horn, president of the Board says, “In addition to an influx of new inventory in January, our REALTORS® had more inquiries and increased traffic at open houses boding well for a solid spring market in the Fraser Valley.” There wer ... Full Article...

CONSISTENT HOME SALES IN THE FRASER VALLEY SPEAK TO CONSUMER CONFIDENCE (Surrey, BC) – For the fifth consecutive month, sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) have remained stable with November’s figures showing a modest increase over October. “Consumers are responding to how prices have moderated in the last six months, in addition to the double dip in mortgage rates,” says Deanna Horn, Board president. &ld ... Full Article...

News Release: August 4, 2010 FRASER VALLEY HOME BUYERS TAKE HOLIDAY IN JULY (Surrey, BC) ? The Fraser Valley Real Estate Board (FVREB) processed 1,101 sales on its Multiple Listing Service (MLS®) in July, a decrease of 47 per cent compared to the 2,089 sales during the same month last year and down 39 per cent compared to June. ?Last year, we experienced the busiest July in our history and this year it was the quietest in a decade,? says FVREB President, Deanna Horn. ?Although the real estate m ... Full Article...

BUSY HOUSING MARKET MEANS MORE CHOICE FOR FRASER VALLEY BUYERS (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) saw close to record levels of listings in April, in addition to strong sales and prices. Deanna Horn, president of the Board, says, “This is a typical, healthy spring market for the Fraser Valley. We received an abundance of new listings in all price categories giving buyers tremendous opportunity, while sellers saw a typical ... Full Article...

BUYER’S MARKET CONTINUES IN FRASER VALLEY (Surrey, BC) – With plenty of selection and relatively modest price increases, buyers are enjoying a healthy spring market in the Fraser Valley. The Board’s Multiple Listing Service® (MLS®) recorded 1,565 sales in March, an increase of 30 per cent over February’s sales and an increase of 56 per cent over the 1,006 sales processed March of last year. Deanna Horn, president of the Board says, “March sales volumes can fl ... Full Article...

STRONGER THAN EXPECTED FRASER VALLEY HOME SALES DURING OLYMPICS (Surrey, BC) – Not even the most engaging Olympics in Canadian history could completely slow the appetite for house hunting, according to the most recent statistics from the Fraser Valley Real Estate Board. The Board’s Multiple Listing Service® (MLS®) recorded 1,204 sales in February, an increase of 23 per cent over January’s sales and an increase of 77 per cent over the 682 sales during February of last year. Dea ... Full Article...

YEAR OF THE REAL ESTATE REBOUND FOR FRASER VALLEY (Surrey, BC) – Results from Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) in December reflect the real estate story of 2009: recovery. “In 12 months, we went from the worst January in 20 years to the third best December,” said Paul Penner, President of the Board. “Home buyers took Boxing Day shopping to new levels with some Fraser Valley REALTORS® showing multiple homes per day between Christmas ... Full Article...

BUSIER THAN NORMAL NOVEMBER FOR FRASER VALLEY REAL ESTATE MARKET (Surrey, BC) - The Fraser Valley Real Estate Board (FVREB) processed 1,522 sales on its Multiple Listing Service (MLS®) in November, an increase of 200 per cent compared to the 507 sales during the same month last year and only 10.7 per cent less than in October. “Interest rates continue to be a strong motivator resulting in unseasonably high real estate sales for this time of year,” said Paul Penner, President of the ... Full Article...

OCTOBER HOME SALES BRISK IN THE FRASER VALLEY (Surrey, BC) - The Fraser Valley Real Estate Board (FVREB) processed 1,704 sales on its Multiple Listing Service (MLS®) in October, an increase of 122 per cent compared to the 768 sales during the same month last year. “We’ve had a reversal. Last October was unseasonably slow and now this past month was one of the strongest real estate markets we’ve had in the Fraser Valley in the last decade,” said FVREB President, Paul Penn ... Full Article...

Housing market heading to record highs October 20, 2009 Helmut Pastrick Central 1 Credit Union VANCOUVER Â? Propelled by low mortgage rates and an economic recovery B.C.Â?s housing market is rebounding strongly and headed to record highs. Housing sales and prices will set new records in 2010, according to the latest Economic Analysis of British Columbia forecast report issued by Central 1 Credit Union. Â?Low mortgage rates are a powerful sales stimulus and when combined with an improving econ ... Full Article...

TORONTO (AP) - Canada's central bank is holding its key interest rate at a record low 0.25 percent and warned that the Canadian dollar's rise threatens to derail the country's recovery. The Bank of Canada said an economic recovery is under way but said this year's surge in the Canadian dollar is expected to more than fully offset recent favorable developments. The central bank reiterated its intention to hold the rate at its historic low until the middle of next year. The Bank of Canada said ... Full Article...

‘MOVE-UP’ BUYERS RETURN TO FRASER VALLEY REAL ESTATE IN AUGUST (Surrey, BC) - The Fraser Valley Real Estate Board credits ‘move-up’ buyers and greater affordability for the second best August in its real estate sales history, bolstered by a summer of historically low interest rates. There were 1,786 sales processed in August, an increase of 96 per cent compared to the 910 sales during the same month last year. Add in sales from June and July generated by many first-time ... Full Article...

CMHC has just released their third quarter report on the BC housing market. The report is 23 pages long so to avoid you falling asleep reading it, I took out some highlights which I thought were worth reading. New Housing Market Residential building permit applications are often used as a leading indicator for future housing starts activity. According to Statistics Canada, all provinces, except Nova Scotia, saw increases in residential construction intentions in May 2009 versus a month ago. I ... Full Article...

Summer sure is flying by. And along with summer comes some good economic news. Yes there will be some bumps along the road however it appears the worst is behind us. In fact some economists are now even predicting a faster recovery than first expected. Which leads to interest rates... The Bank of Canada is still sticking with their goal of not raising the Overnight Rate (Prime) until June of 2010. However, a slight disclosure to that goal is that it depends on inflation. If inflation starts to ... Full Article...

JULY REAL ESTATE SALES REACH RECORD LEVELS IN FRASER VALLEY (Surrey, BC) - Fraser Valley saw the highest number of real estate transactions ever recorded for the month of July. There were 2,089 sales processed on the Fraser Valley Real Estate Board's Multiple Listings Service® (MLS®), an increase of 62.3 per cent compared to 1,284 sales in July of last year. The previous highest July was in 2005, with 2,051 sales. "The factors contributing to last month's sales are completely different than the ... Full Article...

FRASER VALLEY HOME BUYERS TAKE ADVANTAGE OF GREATER AFFORDABILITY (Surrey, BC) – Crediting low interest rates and reductions in house prices, Fraser Valley REALTORS® had their fourth busiest June on record. The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 1,982 sales in June, an increase of 40 per cent compared to the 1,418 sales in June 2008 and 32 per cent higher than sales in May 2009. June’s numbers were comparable to sales achieved during t ... Full Article...

As we've seen the spreads on the bond yields increase, the question of "when are rates coming down?" has been asked a lot! Earlier in the year when volumes were low, volumes for the banks were also low. During Spring Market the race for obtaining 2009 market share was on! Profitability was taking a back seat to market share and we saw very competitive rates from the banks. They were treating a mortgage as a loss leader to get that client in the door. Some also had extra deposit money from RRSP ... Full Article...

HOUSING SALES AND PRICES STABILIZING IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) posted its highest sales volume in a year in May, processing 1,501 sales, the fourth consecutive monthly increase this year. Although that number is still six per cent less compared to the 1,599 sales processed in May of 2008, Board President Paul Penner says it’s a signifi cant improvement compared to where the market was a few months ago ... Full Article...

MLS® HOME SALES FORECAST REVISED OTTAWA – May 14th, 2009 – A Spring housing market that was more active than anticipated has prompted a change to the MLS® home sales forecast issued by The Canadian Real Estate Association for the rest of 2009, and for 2010. National home sales activity is forecast to be down 14.7 per cent to 370,500 units in 2009. This is slightly less than the reduction in activity predicted in CREA’s forecast issued last February. The forecast decline in ann ... Full Article...

Greg Quinn, Bloomberg Published: Thursday, May 14, 2009 Canadian sales of existing homes rose the most in more than five years in April, a realtor group said, citing lower prices and a rebound in consumer confidence. Sales rose 11% from the previous month on a seasonally adjusted basis to 34,838 units, the Canadian Real Estate Association said Thursday in a statement from Ottawa. The average price fell 3.2% from a year earlier to $306,366. "Price adjustments in some markets have helped aff ... Full Article...

DOUBLE NATIONAL HONOURS FOR FRASER VALLEY REALTORS® May 11, 2009 SURREY, BC – Efforts by Fraser Valley REALTORS® to promote public interests have resulted in two national awards from the Canadian Real Estate Association (CREA). The Fraser Valley Real Estate Board, the sixth largest in Canada out of 95, received CREA’s 2008 Ethics Award at its annual general meeting in Ottawa, April 3, for its Excellence through Ethics program. Three weeks later, at CREA’s Political Action C ... Full Article...

It is always more fun to report good news. Following are highlights from various news sources. More proof that the world is not coming to and end and in fact is off life support. The (US) credit crunch is therefore easing and the Loan Officer survey is confirming what the stock market is already telling you-- that the worst is likely past us. Financial Post May 7, 2009 Although North American equity markets are up more than 30% during the current rally that shows few signs of stopping, most i ... Full Article...

Confidence. Probably the most important measure of when and how we will get out of this recession. We know that in order for all of us to get out of this recession, The U.S, housing market and the various stock markets need to turn around. We are already seeing very encouraging signs on our local markets as were addressed in recent reports this morning however it is also good to understand that the good news is also coming out around is via better than expected US Housing data and the positive ... Full Article...

MORE SIGNS OF A REAL ESTATE REBOUND IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley real estate market continued to show signs of rebalancing in April with the number of sales increasing for the third month in a row while the volume of available properties stayed constant. Benchmark prices for detached homes and condominiums also showed increases over the last three months. There were 1,293 sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS ... Full Article...