Dear Clients, Friends and Neighbours,

Up until a few weeks ago the trajectory for interest rates and home prices seemed somewhat predictable.  Slow. Steady. Measured. All with an eye on 2027 as a year of economic stability.

Most expected the Bank of Canada (BOC) to leave the overnight rate unchanged for the remainder of 2026, however oil prices, bond yields and the ongoing US – Canada trade war has made the coming months more uncertain.  Now many expect the BOC to raise its policy rate sooner than originally thought to avoid broader inflation and price shocks.

The next Bank of Canada meeting is October 28.  See the full 2026 schedule HERE

For those working with us in recent weeks know, we had been optimistic fall would bring an increase in buyer demand (historically true) but the latest stats release from the Fraser Valley Board show that is likely not the case.

You can read the report and review all the stats noted below HERE. 

The data becoming clearer, home prices have continued to soften, declines showing in all locations, across all property types.  Average prices compared to the same time last year;

• Detached homes in South Surrey, White Rock, Sullivan, Panorama and Cloverdale down 8-11 per cent.

• Townhomes and apartments in the same areas down 5-8 per cent.

In this same memo, the chair of the Fraser Valley Board notes benchmark prices for single family homes in the Fraser Valley are approx. $460,000 below their peak in 2022. This trend expected to continue thru 2027.

Having been selling homes for almost 25 years, this tracks for us. But what does it all mean for you?

• For those looking to get into the real estate market for the first time, or purchase an investment property, don’t wait.  Get a rate hold and get out there.  Now is a great time to make your move. 

• For those looking to sell and buy in these conditions, rest easy, there is lots to chose from right now and what is lost in your sale price can be made up in your purchase price.

• For those trying to sell an investment property or cash out their primary residence, read our latest blog post for a quick review of the challenges you may face and how they can be overcome ... HERE

If you have been circling a buy or a sell, we can help you land your goals.  It’s what we do.

Written by Jenn

Photo by Jens Darup on Unsplash