March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average —making for the slowest start to the spring market in more than 15 years.
If not for the economic uncertainty driven largely by U.S. tariffs, we’d likely be seeing a typical strong spring market in the Fraser Valley. Instead, we’re seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it.
The resulting inertia is keeping sales low. The overall sales-to-active listings ratio continues to signal a buyer’s market in the Fraser Valley, with a ratio of 11 per cent. The market is balanced when the ratio is between 12 per cent and 20 per cent.
Currently, uncertainty is impacting all corners of the real estate and development sector, and as a result, we are seeing markedly lower seasonal activity.
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