HOUSING SALES & PRICING STABILIZING IN FRASER VALLEY
The Fraser Valley Real Estate Board's MLS posted its highest sales volume in a year in May, processing 1,501 sales, the fourth
consecutive monthly increase this year.
"We're the closest we've seen to a balanced market since early spring last year. Sales have increased, inventory has dropped and prices
are stabilizing," says Paul Penner, Board President.
The Valley's MLS showed 10,047 active listings at the end of May, a decrease of 10% compared to the 11,132 listings available in May of
last year. It received 29% fewer new listings in May, 2,797 compared to the 3,941 it received in the same month last year.
The benchmark price of a 'typical' Fraser Valley home in May was $465,939, a decrease of 9.3% compared to May 2008 when it was
$513,798.
