Stronger Than Expected Sales During Olympics
Not even the most engaging Olympics in Canadian history could completely slow the appetite for house hunting, according to the most
recent statistics from the Fraser Valley Real Estate Board.
The Board's Multiple Listing Service (MLS) recorded 1204 sales in February, an increase of 23% over January's sales and an increase of
77% over the 682 sales during February of last year.
Deanna Horn, president of the Board explained, "Buyers are aware of two key changes that could impact their purchasing ability; the new
mortgage restriction rules coming April 19th, and the HST on July 1st, so the 'Olympic effect' we were hoping for, wasn't as strong as it could have
been."
The Board's MLS received 2879 new listings in February, an average of 144 per business day, providing buyers with 14% more selection
than they had the previous month. The number of active listings in February in the Fraser Valley was 8485, 12% fewer than were available during
February last year.
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