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!

The real estate market throughout May overall stayed pretty consistent. No major variations in prices or sales activity, a slow and steady market that doesn't really favour buyers or sellers.

There are a lot of buyers out there shopping, but not as many ready to pull the trigger and write an offer.

For those buyers who are willing, there are still some pretty good deals to be found!

Those who can benefit the most in current market conditions are people who have large down payments to avoid higher interest rates, or people looking to upgrade from a townhouse/condo to a detached home.

With the Bank of Canada's interest rate cut today, I am curious to see what effect this has on the market over the next few months!

Sales volume continued to rise, but not quite as fast as the new inventory. In April the active inventory of homes increased by 113 homes, while the amount of monthly sales only increased by 14. Due to having more competition, especially in the townhome and condo market, prices have softened a little bit from where they were earlier in the year.

We're still very much in a changing market, some areas are slow, some are lightning fast.

Detached homes have not risen in price as much as townhomes have over the last year, so it's still my opinion that now is a great time to upsize from a townhome to a detached.

Spring is here, and the market is continuing to gradually increase pace, but there have been, and will likely be no sudden increases in price until the interest rates lower this year.

Sales volume continued to rise, but not quite as fast as the new inventory. In April the active inventory of homes increased by 113 homes, while the amount of monthly sales only increased by 14. Due to having more competition, especially in the townhome and condo market, prices have softened a little bit from where they were earlier in the year.

We're still very much in a changing market, some areas are slow, some are lightning fast.

Detached homes have not risen in price as much as townhomes have over the last year, so it's still my opinion that now is a great time to upsize from a townhome to a detached.