Lower Home Prices Attract Buyers to Fraser Valley

(November 01, 2016 )

Mortgage and Housing Corporation (CMHC) released two reports this week, the Housing Market Assessment and Housing Market Outlook, which provide an analysis and overview of real estate both across Canada and locally.Fraser Valley is featured in the Housing Market Outlook starting on Page 14, where it is predicted that, after the tremendous year we’re currently experiencing, “Residential MLS® sales… are expected to trend lower in 2017”. The report discusses this prediction further, and also includes forecast data for sales and prices within our region.Also of note, the Outlook report identifies that the Fraser Valley strong employment levels will continue to draw homebuyers to the region, especially in Abbotsford and Mission, after “a slight pull-back” in 2016.“ Buyers will continue to be attracted to lower home prices in centres in the Fraser Valley compared to centres closer to the Vancouver core .”CMHC’s housing market reports and an accompanying press release can be found on the CMHC public website. The Fraser Valley specific report can be found here.http://news.fvreb.bc.ca/profession/read-cmhcs-latest-housing-market-analysis/