The Fraser Valley Real Estate Board processed 11% fewer sales compared to last month, June 2021\u00a0and 4.5% less compared to July of last year<\/strong>.\u00a0<\/p>\n\n\n\n Currently, the number of buyers significantly outweighs the number of sellers and for the past 14 months, we have been in a strong\u00a0 sellers market. The huge demand for new homes to hit the market has resulted in current inventory levels to reach the lowest for the month since 1981!!<\/strong><\/p>\n\n\n\n What is interesting, is that even though sales and listings have slowed this\u00a0summer,\u00a0 the overall number of sales occurring remains above average, in fact we are sitting at 15% above the 10 year average. That just goes to show you how quickly buyers are purchasing homes as they hit the market.<\/strong> <\/p>\n\n\n\n In my opinion, homes are going to continue to sell fast and for a strong price as long as supply and interest rates remain low. \u00a0Until we see a huge surge of homes coming onto the market, we will remain in a sellers market. <\/strong><\/p>\n\n\n\n Fall is just around the corner. We usually see an increase in the number of new listings processed by the Real Estate Board, but, given how much supply we actually need, I do not think we can keep up with the demand and foresee this sellers market to continue into the new year. <\/strong><\/p>\n\n\n\nAverage Benchmark Pricing:<\/h3>\n\n\n\n
![\"\"](\"https:\/\/www.caianderson.com\/blog\/wp-content\/uploads\/2021\/08\/unnamed-1024x751.jpeg\")
<\/figure>\n\n\n\n