While the weather is heating up - the real estate market is staying pretty still.
Despite the Bank of Canada's interest rate cut that people were waiting on, sales volume decreased pretty substantially month-to-month in both the Chilliwack, and Fraser Valley districts.
Inventory continued to climb, and prices remained relatively stable, with mild decreases in prices for detached homes.
The condo and townhome market is still strong, with affordability still being the largest factor for home buyers.
Sales volume is still healthy though, homes with competitive prices are still selling, and there are some excellent deals out there. I still think these market conditions are the best time to upsize from a condo or townhome to a detached home if the payments are affordable. The gap between townhomes and detached has never been smaller!
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