July had it’s lowest inventory since 1981. But that’s not a bad thing! What does this mean for you?
Fraser Valley Real Estate Board has released the Statistics for July showing that the activity for the housing market has softened for both sales and new listings.
Despite this however, there continues to be a significant difference in buyers to sellers with a larger amount of buyers and resulting in the inventory reaching the lowest for the month of July since 1981.
This is the LOWEST amount of inventory we’ve had for July in 40 years.
As demand persists it looks like Fraser Valley will continue on as a sellers market as it has been for the last 14 months.
So if you’re sitting on the fence thinking whether to sell or buy, don’t hesitate and act now. Supply and demand are the name of the game.
Low amounts of listings coupled with many buyers will drive the prices up.
If you’re looking to buy or sell real estate, contact us here to experience real estate without the hassle.
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