{"id":2543,"date":"2026-04-24T14:35:43","date_gmt":"2026-04-24T18:35:43","guid":{"rendered":"https:\/\/www.caianderson.com\/blog\/?p=2543"},"modified":"2026-04-30T09:52:04","modified_gmt":"2026-04-30T13:52:04","slug":"price-spike","status":"publish","type":"post","link":"https:\/\/www.caianderson.com\/blog\/2026\/04\/24\/price-spike\/","title":{"rendered":"Price Spike!"},"content":{"rendered":"\n

For the first time in 11 months, the Fraser Valley saw an increase in the Benchmark sale price! <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Active listings <\/h3>\n\n\n\n

When turning to active listings for detached and attached homes combined, the Fraser Valley sits at 6,522 units, and Langley sits at 1,137 units. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Sales<\/h3>\n\n\n\n

Looking at sales for detached and attached homes combined, the Fraser Valley sits at 893 units; Langley sits at 221 units. We are down year over year for the number of Sales across the Fraser Valley, which is very surprising, as last year’s sales were as low as they have been in over 2 decades. In March 2025, the Fraser Valley had 12,228 sales, and in March 2026, the Fraser Valley had only 10,548 sales. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

So, the absorption rate is quite low. Things are taking time to sell, and all asset classes (detached, townhomes and condos) are in a buyer’s market, meaning buyers have the upper hand when it comes to negotiating a sale, and they can take a lot of time to make an educated decision on their home purchase. <\/p>\n\n\n\n

Canadian Sales 10-year Rolling Average <\/h3>\n\n\n\n

Sales continue to follow suit in all of Canada, declining this year as well and falling well under the 10-year rolling average. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Interest Rates<\/h3>\n\n\n\n

Fixed rates <\/strong>are expected to actually increase by the end of the year. Right now, you can get a fixed rate for just under 4%; however, mortgage professionals and economists are expecting that to increase. <\/p>\n\n\n\n

The Bank of Canada held its target on April 29th, 2026, for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Therefore, variable rates<\/strong> remain unchanged. <\/p>\n","protected":false},"excerpt":{"rendered":"

For the first time in 11 months, the Fraser Valley saw an increase in the Benchmark sale price! Active listings When turning to active listings for detached and … [read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":2544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nPrice Spike! - Caileigh's Vlog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caianderson.com\/blog\/2026\/04\/24\/price-spike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price Spike! - Caileigh's Vlog\" \/>\n<meta property=\"og:description\" content=\"For the first time in 11 months, the Fraser Valley saw an increase in the Benchmark sale price! 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