The Canadian real estate landscape has been treading water lately, as elevated borrowing costs and economic uncertainty keep many would-be buyers on the sidelines. While major markets like Toronto and Vancouver see softer prices and lingering affordability challenges, indicators suggest demand could snap back if interest rates ease or confidence returns.

Below, we break down the national picture and zoom in on the Fraser Valley—Surrey, Langley, Abbotsford, Chilliwack and Mission—to show you where opportunities lie.

National Trends: A Market in Pause

• Detached Homes Are Cooling
  Prices for standalone houses in Toronto and Vancouver have eased from their pandemic peaks, but affordability remains stretched.

• High Inventories, Slower Sales
  Canada-wide listings are up roughly 20% year‑over‑year, yet activity remains below long‑term averages.

• Pent‑Up Demand Beckons
  Economists believe buyer interest hasn’t vanished—it’s just waiting for a signal (lower rates or clearer economic outlook) to re‑enter the market.

Fraser Valley Snapshot & Outlook

The Fraser Valley has shifted firmly into buyer’s market territory. Here’s what you need to know:

1. More Homes, More Choice

Inventory is roughly 30% higher than this time last year. Buyers can take their time, shop comparable properties, and negotiate price or conditions.

2. Softer Prices Across the Board

Year‑over‑year, benchmark prices for detached homes have dipped over 4%, townhomes about 3%, and condos nearly 5%. Sellers need realistic pricing strategies to attract offers.

3. Longer Sales Cycles

Today’s average days on market—35 for singles, 30 for townhomes, 40 for condos—gives buyers breathing room to arrange financing and inspections without rushing.

Who Stands to Win Right Now

• First‑Time Buyers
  With less competition and softer entry‑level prices, now is a prime moment to secure your first home.

• Move‑Up Buyers
  If you’re trading a condo or townhouse for a detached house, the current spread between those segments works in your favor.

• Downsizers
  Cash in on your larger family home’s equity and find a lower‑maintenance property while still capturing a strong sale price.

Looking Ahead

Most experts expect a gentle market rebound in the fall—provided interest rates stabilize or decline. If you’re selling, partner with an experienced REALTOR® to set the right price and marketing plan. If you’re buying, lock in your financing now and take advantage of today’s selection before competition heats up again.

Ready to make a move? Let’s discuss your goals and map out a strategy tailored to your situation. Visit marktousdell.com/contact to get started.