Market stats Fraser Valley Real Estate

The Fraser Valley Real Estate Board released its August 2026 numbers, and the headline is simple: sellers are feeling the squeeze as buyers take their time. Home prices continue to ease, and the buyer's market that has defined this year just kept deepening.

Let's break this down. The Fraser Valley recorded 941 sales in August, down 14 per cent from July, but up one per cent from August of last year. That year-over-year gain is only the second one we've seen since the start of 2025, a modest bright spot in an otherwise subdued market.

New listings also pulled back. 2,373 new listings came to market in August, a 16 per cent decline from July and 15 per cent below last August's pace. Some sellers appear to be holding off rather than listing into a soft market.

Here is what the numbers look like on benchmark pricing. The composite benchmark price for a typical Fraser Valley home is now $869,900, down 0.9 per cent from July and seven per cent below where it was a year ago.

Single-family detached homes are benchmarking at $1,319,600, down 1.2 per cent from July and down 8.4 per cent year-over-year.

Townhomes are at $750,600, down 0.9 per cent from July and down 7.1 per cent year-over-year.

Apartments are at $466,100, down 0.7 per cent from July and down 8.9 per cent year-over-year.

Active listings sit at 9,787, down three per cent from July, but still 33 per cent above the 10-year seasonal average for this time of year. The sales-to-active listings ratio came in at 10 per cent, keeping us firmly in buyer's market territory. A balanced market is typically between 12 and 20 per cent.

Average days to sell were 45 days for both single-family detached homes and condos, and 37 days for townhomes.

Here's the reality. Ishaq Ismail, Chair of the Fraser Valley Real Estate Board, described it as a tug-of-war: some buyers are negotiating below asking price, while sellers who need to sell are more likely to accept lower offers. That dynamic is what is driving the gradual price declines we're seeing, and it is creating more opportunity for buyers who are ready to act. Anthony Boone, Interim CEO of the Board, pointed out that prices are now as much as 15 per cent lower than they were three years ago, and these conditions are expected to keep favouring buyers for the foreseeable future.

If you are a move-up buyer with existing equity, this remains one of the better windows we have seen in years to make that move.

If you are a first-time buyer, it is worth checking in with a mortgage broker about where you actually stand. Pricing across every property type is meaningfully lower than it was a year ago, and in some cases lower than it was three years ago.

If you are a seller, price is what is deciding how fast your home moves right now. Homes priced to reflect today's market are still selling in a reasonable window. Homes priced for last year's market, or for three years ago, are sitting.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

I've been getting more questions from buyers lately about foreclosure listings.

With interest rates and economic pressure weighing on more homeowners, foreclosure sales are starting to show up more often across BC, and the Fraser Valley is no exception. Buyers see a price that looks like a deal and want to know if it actually is one.

Every time I get that question, I give the same answer. It depends, and here is what you actually need to know before you go any further.

Let's break this down.

A foreclosure happens when a homeowner falls behind on their mortgage and the lender takes legal action to recover the money owed. In BC, this process runs through the BC Supreme Court, so it is not quick and it is not simple.

Step one is the Order Nisi. When a borrower defaults, the lender applies to the court for this order, which typically comes with a six month redemption period. The homeowner still has six months to pay off the full mortgage balance, plus interest and costs, and keep the home. Many homeowners do redeem during this window.

Step two is Conduct of Sale. If the homeowner does not redeem the property, the lender can apply for Conduct of Sale, which lets them list and sell the property on the open market.

Step three is where it gets interesting. Once the lender accepts an offer and subjects are removed, the sale still needs to go before a judge for approval. Any third party can submit a competing offer to the court at this stage. That means even after you have done your due diligence and removed subjects, you could find yourself in a courtroom bidding war with a stranger.

Foreclosure properties can be appealing, sometimes priced below market, with motivated lenders and motivated timelines. But the risks are real, and they are worth walking through before you get attached to a listing.

Risk one: sold as-is, where-is. This is the big one. The lender makes no warranties about the condition of the property. There are no seller disclosure statements, no promises about the roof, the plumbing, or the foundation. The property could have deferred maintenance or hidden damage, and in some cases fixtures have been removed before the previous owner vacated.

Risk two: non-resident seller tax liability. If the original owner was a non-resident of Canada, the buyer can be held liable for unpaid withholding taxes under the Income Tax Act. This becomes your problem, not the seller's, so your lawyer needs to investigate it before closing.

Risk three: occupancy issues. Not every foreclosure property is vacant. If someone is still living in the home, whether the original owner or a tenant, you could be taking on an occupancy dispute at closing. Knowing the status of the property before you commit is essential.

Risk four: the bidding war at court. As mentioned above, the court approval stage opens the door to competing offers. Unlike a typical negotiation, anyone can show up at court and outbid you. Your deal is not guaranteed until the judge signs off.

Here's the reality, foreclosures are not automatically good or bad deals. For the right buyer, with the right guidance, they can represent genuine opportunity. But they are not suitable for every buyer, and they are not something you should try to navigate on your own.

If you are considering a foreclosure, hire a realtor who has experience with them, get a real estate lawyer involved early, ideally before you even tour the property, do a thorough inspection since there are no seller disclosures, and know your ceiling going in so you are prepared to walk away if the court approval hearing brings a higher competing offer.

If you have questions about a foreclosure property, or you have spotted a listing and want to know whether it is the right fit for you, I am happy to walk you through it and connect you with the right legal support to protect your interests.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

Legal insights in this post were informed by Spagnuolo LLP, a BC real estate law firm. Always consult a qualified real estate lawyer before purchasing a foreclosure property.

The Fraser Valley Real Estate Board released its July 2026 numbers, and the story has not changed much: prices keep coming down, and buyers keep taking their time. The composite benchmark price is now down seven per cent from a year ago. That is a meaningful shift, not a blip, and it still has not been enough to bring urgency back to the market.

Let's break this down. The Fraser Valley recorded 1,089 sales in July, down five per cent from June and nine per cent below where we were this time last year. Sellers pulled back too. 2,836 new listings came to market, a 14 per cent decline from June and 18 per cent below last July's pace. Neither side is rushing, and that is exactly why conditions continue to favour prepared buyers.

Here is what the numbers look like on benchmark pricing. The composite benchmark price for a typical Fraser Valley home sits at $877,600, down 0.8 per cent from June and about seven per cent below where it was a year ago.

Single-family detached homes are benchmarking at $1,335,200, down 1.1 per cent from last month and down 8.3 per cent year-over-year.

Townhomes are at $757,300, down 0.9 per cent month-over-month and 7.1 per cent below July 2025.

Apartments are at $469,500, down 1.4 per cent from June and 9.1 per cent below this time last year.

On the supply side, there are 10,044 active listings in the Fraser Valley, down three per cent from June but still 32 per cent above the 10-year seasonal average for this time of year. That level of supply keeps competition in check and keeps conditions favourable for buyers. The sales-to-active listings ratio sits at 11 per cent. For context, a balanced market is typically between 12 and 20 per cent. We remain in buyer's market territory, and buyers who are financially prepared are finding some of the most favourable conditions this market has offered in some time.

Average days to sell were 40 days for detached homes and townhomes, and 46 days for condos. Properties are moving, just not overnight. Pricing and presentation still matter enormously.

Here's the reality — buyer urgency has been notably absent from this market for some time, and July did not change that. Inventory remains high, competition remains subdued, and buyers know they do not have to rush. Affordability keeps improving, especially for first-time buyers and those looking to downsize, faster than demand is picking up to meet it.

If you are a move-up buyer with existing equity, this remains one of the better windows we have seen in years to make that move.

If you are a first-time buyer, it is worth checking in with a mortgage broker about where you actually stand. Pricing across every property type is meaningfully lower than it was a year ago.

If you are a seller, price is what is deciding how fast your home moves right now. Homes priced to reflect today's market are still selling in a reasonable window, 40 to 46 days on average. Homes priced for last year's market are sitting.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

The number on your listing agreement is never the number that lands in your account — here’s exactly where the difference goes.

Most sellers anchor on their sale price. It's the number on the sign, the number in the group chat, the number that feels like the win. But it's not the number that actually shows up in your bank account after closing — and when the real number comes in lower than expected, it's rarely because anything went wrong. It's because no one walked through every line item before the home ever hit the market.

Here is every cost that typically comes off the top between an accepted offer and your wire transfer, so you go into your sale with a real number in mind — not just the listing price.

1. Real Estate Commission (Plus GST)

Commission is almost always the largest single cost of selling. It's typically charged as a percentage of the sale price — sometimes a flat rate, sometimes tiered (a higher percentage on the first portion of the price, a lower percentage on the remainder). GST applies on top of whatever the commission works out to.

Commission is negotiable, and it's worth understanding exactly what it pays for before you compare numbers between agents. A typical listing commission covers:

•       MLS listing and syndication to major home search sites

•       Professional photography, video, and marketing materials

•       Pricing strategy and comparative market analysis

•       Negotiation and contract management through to closing

•       The co-operating commission paid out to the buyer's agent

2. Mortgage Discharge Fee (and a Possible Prepayment Penalty)

Your lender charges a flat discharge (or reconveyance) fee to remove their claim from title once your mortgage is paid out. That part is minor.

The part that catches sellers off guard is the prepayment penalty. If you're paying off your mortgage before the end of its term, most lenders charge a penalty — and on fixed-rate mortgages, this is often calculated using an interest rate differential (IRD), which can run into the thousands of dollars depending on how much time is left on your term and how rates have moved since you signed. Variable-rate mortgages typically carry a smaller, flat penalty.

Before you list, call your lender and ask for a mortgage payout statement. It's the only way to know your real penalty, and in some cases porting your mortgage to your next purchase can reduce or avoid it entirely.

3. Legal or Notary Fees

In BC, a lawyer or notary handles the paperwork on your sale — reviewing the contract, preparing the Statement of Adjustments, issuing payout instructions to your lender, and transferring funds after closing. Fees vary by firm and by how complicated the file is.

[Adjust: insert the typical legal/notary fee range you quote clients in your market.]

4. Property Tax, Strata, and Utility Adjustments

At closing, your lawyer or notary prepares a Statement of Adjustments that settles up anything you've prepaid or still owe — property taxes, strata fees, utilities — based on the possession date. Depending on timing, this can work in your favour or add a small cost.

If you're selling a condo or townhome, expect a strata fee for the Form B / estoppel certificate the buyer's lender requires — typically a modest, one-time charge paid to the strata corporation.

5. Home Prep and Presentation Costs

Staging, minor repairs, decluttering or short-term storage, and a deep clean before photos are the most common prep costs. Some of this may be bundled into your listing package; some of it may be billed separately. Worth clarifying upfront so it isn't a surprise.

6. Capital Gains Tax (If It's Not Your Principal Residence)

If the property you're selling has been your principal residence the entire time you've owned it, the principal residence exemption generally shields the gain from tax. That changes if it's a rental, a recreational property, or a home you haven't lived in full-time — in which case capital gains tax can apply. Talk to your accountant before you list, not after you've already accepted an offer.

7. Moving Costs

The most commonly forgotten line item in the whole process: movers, storage, cleaning the home you're leaving, and deposits on the next place. It isn't a closing cost in the technical sense, but it comes out of the same pool of proceeds — so it belongs in the math.

Putting It All Together: A Sample Net Proceeds Snapshot

Every sale is different, but seeing the fees stacked against a real sale price makes the math easier to picture. The figures below are illustrative only — replace them with numbers that reflect your actual mortgage balance, commission structure, and closing costs.

Know Your Number Before You List

None of these costs should be a surprise on closing day. If you're thinking about selling, I'll walk through a personalized net sheet with you before your home ever hits the market — so you know exactly what to expect to walk away with, not just what the sign in the yard says.

Best,

Aaron

The Fraser Valley Real Estate Board released its June 2026 numbers, and the headline is simple: this market keeps getting more affordable, and buyers keep sitting it out. Benchmark prices are now 26 per cent below their 2022 peak. That is not a small correction — it is a genuinely different market than the one most buyers remember. And yet, activity has not caught up to the opportunity.

Let's break this down. The Fraser Valley recorded 1,147 sales in June, up two per cent from May but still about four per cent below where we were this time last year. Sellers, meanwhile, levelled off after pulling back in May — 3,303 new listings came to market, essentially unchanged from the month before, though still nine per cent below last year's pace. Neither side is rushing. Buyers who are qualified and paying attention are the ones finding real value right now.

Here is what the numbers look like on benchmark pricing. The composite benchmark price for a typical Fraser Valley home sits at $884,800, down 0.9 per cent from May and about seven per cent below where it was a year ago.

Single-family detached homes are benchmarking at $1,350,200, down 1.2 per cent from last month and down 7.7 per cent year-over-year.

Townhomes are at $764,100, down 0.7 per cent month-over-month and 7.3 per cent below June 2025.

Apartments are at $476,400, down 1.5 per cent from May and 9.1 per cent below this time last year.

On the supply side, there are 10,377 active listings in the Fraser Valley heading into summer — a level of supply that keeps competition in check and keeps conditions favourable for buyers. The sales-to-active listings ratio sits at 11 per cent. For context, a balanced market is typically between 12 and 20 per cent. We remain in buyer's market territory, and buyers who are financially prepared are finding some of the most favourable conditions this market has offered in some time.

There is also a bigger conversation developing around supply. The recent agreement between Build Canada Homes and BC Housing may help add inventory and improve access to ownership down the road, though with details still unclear, it is hard to say exactly what that means for buyers today. Worth watching, not worth waiting on. Average days to sell were 37 days for detached homes, 33 days for townhomes, and 38 days for condos. Properties are moving — just not overnight. Pricing and presentation still matter enormously.

Here's the reality — the affordability story in the Fraser Valley is real, and it is measurable. Prices are down across every property type compared to a year ago, inventory is healthy, and you are not competing against a wave of aggressive buyers. The question is not whether the opportunity exists. It is whether qualified buyers on the sidelines recognize it before conditions shift.

If you are a move-up buyer with existing equity, this is worth a serious look. If you are a first-time buyer, it is worth checking in with a mortgage broker about where you actually stand — the entry points in the condo and townhome segments have improved meaningfully over the past year.

If you are a seller, the market is still moving. Properties that are priced correctly and show well are getting attention. The buyers who are active right now are serious.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

I had an interesting open house experience recently.

Throughout the afternoon, several couples came through, took their time in every room, asked great questions, and told me this was the one. One of the best comments I heard all day was "We have been looking for months and this is the first house that ticks all the boxes."

Every single time I heard that, I felt good for about two seconds -- and then came the part that made my heart sink a little.

"We haven't listed our place yet. We are just looking."

I understand the impulse. Nobody wants to sell their home without knowing where they are going. That feels like a leap of faith that most people are not comfortable taking. But here is the reality -- waiting to list while you casually shop for your next home is one of the most common and most costly mistakes I see buyers make in this market.

Let's break this down.

Homes that are priced right and show well do not sit on the market waiting for the right buyer to get organized. In South Surrey and White Rock right now, a well-priced, well-presented property is attracting serious attention quickly. The buyers who win are the ones who are ready to move. That means they are pre-approved, they have an active buyer's agent working for them, and if they have a home to sell, that home is already listed.

When you make an offer that is subject to the sale of your existing property, you are asking the seller to take a significant risk. They are essentially taking their home off the market for you while you go through the entire process of listing, marketing, finding a buyer, and removing conditions on your own sale. Most sellers with a desirable property are not going to accept that -- and they should not have to. They have better options.

Here's what that means for you. If you are in a situation where you need to sell before you buy, the strategy is not to wait and browse. The strategy is to get listed first, build your own buyer's confidence, and then make a move on the property you actually want -- from a position of strength rather than a position of "we're not quite ready."

The challenge with that is it requires a plan and a bit of courage. You have to trust the process. You have to believe that if you price your home correctly and present it well, it will sell. And in most cases in this market, that belief is well-founded.

There are also options in between. Some buyers use bridge financing to purchase before their home closes. Others work with their agent and their mortgage broker early to understand exactly what their timeline looks like and structure their offer accordingly. These conversations need to happen before you fall in love with a property -- not the morning you want to write an offer.

Here's the reality -- the people who find the homes they love and actually get to live in them are not the ones who have been casually browsing for months. They are the ones who got serious, made a plan, and were ready when the right property came along.

The next home you tour that checks every box is not going to wait for you to get organized. And the one after that probably won't either.

If this is something you are thinking about, I am happy to walk you through what a sell-buy plan looks like in this market -- from listing to possession, with the right timing so you don't end up stuck or scrambling.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

The governments of Canada and British Columbia have a message for you: this is not a bailout.

Don't believe them.

In the spring of 2025, Prime Minister Mark Carney and Premier David Eby stood side by side to announce a $3.2 billion plan — the centerpiece of which is the purchase of more than 2,200 vacant, unsold condo units across Metro Vancouver. The federal government's Build Canada Homes agency and BC Housing will acquire these units from private developers and convert them into "affordable housing." The program is framed as a creative solution to a housing shortage.

But here's what it actually is: taxpayers bailing out developers who overbuilt, overpriced, and are now stuck holding inventory they can't sell.

The Numbers Tell the Story

Let's start with the scale of the problem. As of early 2025, there were approximately 4,376 completed condos sitting empty in Metro Vancouver — a staggering 76% increase from the year prior. One third of those units are priced above $1 million. The market has clearly spoken: buyers aren't buying at these prices.

So what do the developers do? They don't lower their prices. They go to government.

And the government comes running — to the tune of $3.2 billion in direct measures, plus a commitment of more than $5 billion from the federal government into BC's local infrastructure through the Build Communities Strong Fund over the next decade. Development charges on new multi-unit housing could be reduced by up to 50%, saving builders as much as $40,000 per unit — also funded by the public purse.

The specific per-unit purchase price the government will pay for those 2,200 condos? The federal housing ministry hasn't told us yet. They say they'll work it out "in the coming weeks." Details on what rents will be charged to tenants won't come until fall.

In other words: we're committing billions, but we'll tell you what we're spending later.

"Developers Don't Want to Sell at a Loss"

That line came directly from Prime Minister Carney at the announcement. Read it again.

Developers don't want to sell at a loss.

Since when does not wanting to take a loss entitle you to have the government buy you out at a price that protects your margins? That is not how a free market works. That is not how accountability works. And in any other industry, that is not how business works.

When a restaurant over-orders food and it goes bad, no one reimburses the chef. When a retailer over-stocks a product that doesn't sell, they markdown and move on. When developers in Metro Vancouver overbuild luxury condos during a market they misread, they get a call from the Prime Minister and a cheque from the Canada Mortgage and Housing Corporation.

The playing field has never been more uneven — and it's you, the ordinary BC taxpayer, renting or trying to buy a home at market prices, who is levelling it for them.

A Word for What This Really Is: Moral Hazard

Steve Eisman — the investor made famous in The Big Short for predicting the 2008 US housing collapse — had a memorable take on this plan. He called it "moral hazard on steroids," and said it was worse than the 2008 American subprime fiasco.

Why? Because when you socialize losses and privatize gains, you don't just solve the problem in front of you — you guarantee the next one. You send a message to every developer in the country: build aggressively, price ambitiously, and if the market doesn't cooperate, the government will be there to clean it up. Taxpayers will absorb the downside so you never have to.

That is what moral hazard means. And right now, BC and Ottawa are writing it into policy.

What About the "Affordable Housing" We're Getting in Return?

Supporters of the plan argue that at least we're getting something: 2,200 units of affordable housing in one of the most expensive cities in the world. That's not nothing.

But it's worth asking some hard questions:

Who defines "affordable"? The government hasn't released rent levels. Remember: a third of the vacant units cost over a million dollars to build. If the government is paying close to market value for those units (which, again, we don't know yet), achieving genuinely below-market rents means subsidizing every single tenant indefinitely. Forever.

What does this do to the rental market? Vancouver's rental market has actually been softening. The overall vacancy rate in Metro Vancouver rose to its highest level in over 30 years in 2025. Rents for condos and purpose-built rentals fell by 15.1% compared to 2023. November 2025 marked the 24th consecutive month of annual rent declines.

In a market that is already correcting — naturally, organically, through supply and demand — the government is stepping in to prevent the bottom from falling further. Not for renters. For developers.

What does this do to the condo market itself? Purchasing 2,200 of the roughly 4,376 vacant units removes nearly half of Metro Vancouver's unsold supply. That's not clearing a glut — that's propping up a price floor. It signals to the market that the government will intervene before prices are allowed to fall to where ordinary people can actually afford them.

The Local Government Problem

Here's something else: municipal governments aren't cheering either. The deal was negotiated between Victoria and Ottawa without meaningful consultation with the cities and municipalities who will actually be managing these converted buildings and the communities around them. Local governments have their own infrastructure pressures, and absorbing hundreds of subsidized rental units into neighbourhoods without coordination creates its own set of challenges.

It's a top-down fix to a problem that required bottom-up understanding.

Who's Paying for This?

You are. I am. Every working British Columbian filing a tax return is.

When the government purchases 2,200 condo units at or near market prices from developers who "don't want to sell at a loss," it is transferring wealth from the public to a private industry that made speculative bets and lost. It is locking in the developers' profit — or at least limiting their loss — while leaving the taxpayer holding an asset portfolio of overpriced condos with no disclosed management plan and no confirmed rent structure.

And then there's the broader $3.2 billion in infrastructure subsidies designed to reduce development costs by up to 50%. That's money that won't be going to schools, healthcare, roads, or any of the other things government is supposed to do.

My Take: No. This Is Not Right.

I work in real estate. I believe in the market. I believe in the importance of housing supply. And I believe that getting more rental units built and occupied in Metro Vancouver is genuinely important.

But I do not believe that the right way to achieve that goal is to protect developers from the consequences of their own decisions at the expense of ordinary taxpayers.

A fair market means bearing your own risk. If developers overbuilt and overpriced, the correct outcome is that they reduce their prices until the market clears — which, in turn, brings home prices down closer to what real people can actually pay. That is the correction British Columbians have been waiting years for.

Instead, we're getting a government intervention designed specifically to prevent that correction from happening — to "clear off the overhang," in the Prime Minister's own words, without allowing prices to fall.

That's not housing policy. That's a bailout.

Call it what it is.

The Fraser Valley Real Estate Board released its May 2026 numbers, and the story this month is not about a market that is surging or crashing. It is about a market that is quietly creating real opportunity for the right buyers -- particularly those with existing equity who have been waiting for the right time to move up.

Let's break this down.

The Fraser Valley recorded 1,124 sales in May, up slightly from April but still about five per cent below where we were this time last year. Sales activity remains measured, and much of the caution in the market right now comes down to economic uncertainty, job security concerns, and the general pressure of higher everyday costs. First-time buyers have largely stepped back. Move-up buyers, however, are stepping forward.

The reason is straightforward. Detached home prices have come down enough that buyers who already own a home and have built equity are finding themselves able to reach a segment of the market that was simply out of range a few years ago. That is a meaningful shift.

Here is what the numbers look like on benchmark pricing.

The composite benchmark price for a typical Fraser Valley home sits at $893,300, down 0.7 per cent from April and about seven per cent below where it was a year ago.

Single-family detached homes are benchmarking at $1,366,500, down 0.6 per cent from last month and down 7.9 per cent year-over-year.

Townhomes are at $769,500, down 0.3 per cent month-over-month and 7.6 per cent below May 2025.

Apartments are at $483,800, down 1.5 per cent from April and 8.8 per cent below this time last year.

On the supply side, there are 10,140 active listings in the Fraser Valley right now, which is well above historical norms and giving buyers a strong selection to choose from. New listings actually fell both month-over-month and year-over-year in May, which tells us some sellers are holding off, waiting for conditions to improve before they list. That does not mean good properties aren't hitting the market -- it just means the sellers who are listing right now tend to be serious.

The sales-to-active listings ratio sits at 11 per cent. For context, a balanced market is typically between 12 and 20 per cent. We are in buyer's market territory, and buyers who are financially prepared are finding some of the most favourable conditions this market has offered in some time.

Average days to sell were 35 days for detached homes, 37 days for townhomes, and 40 days for condos. Properties are moving -- just not overnight. Pricing and presentation still matter enormously.

Here's the reality -- if you own a home in the Fraser Valley and have been thinking about making a move into something larger, the math is worth looking at right now. Prices in the detached segment are down, inventory is up, and you are not competing against a wave of aggressive buyers. That combination does not come around often.

If you are a first-time buyer sitting on the sidelines, it is worth checking in with a mortgage broker about where you actually stand. The entry points in the condo and townhome segments have improved meaningfully over the past year.

If you are a seller, the market is still moving. Properties that are priced correctly and show well are getting attention. The buyers who are active right now are serious.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

You have probably seen the headlines. Bank of Canada could cut rates. Inflation is still a problem. Fixed mortgage rates are creeping higher again. It sounds contradictory, and that is because the two things are not connected the way most people think.

Here is what is actually going on.

Let's break this down.

Variable-rate mortgages move with the Bank of Canada's overnight rate. When the Bank cuts, your variable rate drops. When they hold, it holds. That part is fairly straightforward.

Fixed-rate mortgages are a different story entirely. Fixed rates are driven by Government of Canada bond yields, particularly the 5-year bond. Bond yields do not wait for the Bank of Canada to meet. They move every single day based on inflation data, employment numbers, economic growth expectations, government spending, and what is happening globally. This is why your lender can quietly raise fixed-rate pricing even when the Bank of Canada has not touched their policy rate.

Over the past few weeks, that is exactly what has happened.

Canada recently reported weaker employment numbers, including approximately 46,000 full-time job losses and rising unemployment. Normally, softer economic data puts downward pressure on bond yields, which should help fixed rates. But inflation pressures are still lingering, and that is creating conflicting signals. Oil prices, tariffs, geopolitical uncertainty, and supply chain issues are all keeping inflation concerns alive. Some economists have even started using the word stagflation again -- slower growth combined with persistent inflation.

On top of all of this, the Bank of Canada is watching the U.S. Federal Reserve closely. Markets increasingly expect American rates to stay elevated if their inflation does not cool quickly, and that continues to put upward pressure on Canadian bond yields and lender pricing.

Here's the reality -- the media tends to collapse all of this into "rates up" or "rates down," but the actual picture right now is far more nuanced.

Here's what that means for you.

If you are a buyer, volatility with fixed rates is likely to continue through the summer. Even small rate changes affect what you qualify for and what you can comfortably afford. Variable-rate products are becoming part of the conversation again because they are currently qualifying at lower rates than many fixed options, which can meaningfully improve purchasing power for some buyers.

The challenge with that is the decision is not just about which rate is lowest today. Portability, prepayment penalties, flexibility, and your plans for the next three to five years all matter. If there is any chance you move, renovate, or refinance during your term, those details can cost you far more than a small rate difference ever would.

If you are still actively shopping, many lenders still offer rate holds for up to 120 days. That can give you real protection while you are searching in a market that continues to shift quickly.

Bottom line -- now more than ever, the conversation with your mortgage broker matters. Not just to find the lowest rate, but to build the right strategy for your situation.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

Sales rise year-over-year for the first time in over a year -- here is what the numbers mean for buyers and sellers in South Surrey, White Rock, and the Fraser Valley.

Spring has arrived in the Fraser Valley real estate market -- and for the first time in more than a year, sales are tracking above where they were at this time last year. That is a meaningful shift, even if conditions overall remain firmly in buyers' favour.

Here is what the Fraser Valley Real Estate Board reported for April 2026, and more importantly, what it means for you.

The Numbers at a Glance

The FVREB recorded 1,118 sales on the MLS in April. That is up 11 per cent from March and seven per cent above April 2025 -- the first year-over-year increase in sales in more than 12 months.

New listings came in at 3,549, up six per cent from March. Sellers are entering the market as expected for spring, though the number is lower than this time last year.

Active inventory sits at 9,816 listings -- up seven per cent from March and 45 per cent above the 10-year seasonal average. There is a lot of supply out there relative to historical norms.

Total Sales: 1,118 -- up 11% vs. March, up 7% vs. April 2025 New Listings: 3,549 -- up 6% vs. March Active Listings: 9,816 -- up 7% vs. March, up 45% vs. 10-year average Sales-to-Active Ratio: 11% -- buyer's market (balanced = 12-20%) Detached Days on Market: 37 days Townhome Days on Market: 32 days Condo Days on Market: 42 days

Benchmark Prices: April 2026

The composite benchmark price for a typical Fraser Valley home edged up 0.1 per cent in April to $899,200. That is the second consecutive month of modest price gains -- though prices remain well below where they were a year ago.

Single Family Detached: $1,374,800 -- down 0.1% vs. March, down 8.8% vs. April 2025 Townhome: $771,600 -- down 0.1% vs. March, down 7.4% vs. April 2025 Apartment/Condo: $491,000 -- up 0.4% vs. March, down 8.3% vs. April 2025 Composite: $899,200 -- up 0.1% vs. March

What This Means for Buyers

Here is the reality. This is one of the better buying environments the Fraser Valley has seen in several years. Prices are down eight to nine per cent compared to a year ago across most property types. Inventory is high, giving you real choice. And the sales-to-active ratio of 11 per cent means supply is outpacing demand -- which keeps negotiating power firmly on the buyer's side.

The challenge with that is, this kind of environment does not last indefinitely. When sales start climbing -- and April's numbers suggest that momentum is building -- inventory tends to tighten and prices follow. If you have been sitting on the sidelines waiting for the right time, the data right now is telling you something.

Let's break this down simply: lower prices than last year, more selection than average, and borrowing costs that have come down from their peak. That is a combination worth paying attention to.

What This Means for Sellers

Sellers need to go into this market with clear eyes. More inventory means more competition. Homes are taking 32 to 42 days to sell depending on the property type, and pricing strategy matters more than ever.

Here is what that means for you as a seller: if your home is priced right and shows well, it will sell. But buyers have options, and they know it. Overpricing in this market does not lead to negotiation -- it leads to sitting.

The good news is that the market is moving. Sales are up month-over-month and year-over-year, which signals that motivated, qualified buyers are out there. The sellers who are succeeding right now are the ones who price accurately from day one and present their homes well.

A Local Perspective: South Surrey, White Rock, and the Fraser Valley

These board-wide numbers tell the broader story, but every neighbourhood has its own rhythm. In South Surrey and White Rock, we are seeing similar dynamics -- healthy inventory, buyers with leverage, and properties that are priced well moving at a reasonable pace.

If you are curious how these numbers apply specifically to your street, your building, or the area you are looking to buy into, that is exactly the conversation I am here for. The board numbers are the starting point -- the local data is where the real insight is.

The Bottom Line

April's numbers show a market that is starting to find its footing after a long stretch of uncertainty. Sales are rising, prices are stabilizing, and buyers have a real window right now. Sellers who are prepared and realistic are still getting deals done.

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

A simple, under-$100 step could save you from losing your home -- and most people have never heard of it.

Imagine waking up one day to discover that someone has posed as you, listed your home for sale, and pocketed the proceeds. It sounds like something out of a thriller, but it is a very real risk facing BC property owners right now -- and a recent court case brought it back into the spotlight in a big way.

The Big White Wake-Up Call

A recent article in the Vancouver Sun detailed a shocking fraud case involving a condo at Big White ski resort in BC. Fraudsters impersonated the property owners, found a buyer, and nearly completed the transaction before the scam was uncovered. While the true homeowners were spared from losing their property, the buyers were not so lucky -- they walked away with losses of approximately $75,000.

The BC Supreme Court judge who reviewed the case called it the 'stuff of nightmares' -- and that description fits. This was not a sophisticated hack or a data breach at a financial institution. It was someone pretending to be a homeowner, and it nearly worked.

As your realtor, this case hit close to home. I want to make sure you know about a straightforward protection that most BC homeowners have never heard of.

What Is Title Fraud -- and How Does It Happen?

Title fraud (sometimes called mortgage fraud) happens when a criminal uses stolen or forged identity documents to impersonate a property owner. From there, they can:

•       Sell your home without your knowledge and disappear with the sale proceeds

•       Take out a mortgage or home equity loan against your property and pocket the funds

•       Transfer ownership entirely, leaving you to fight a legal battle to reclaim what is rightfully yours

Properties that are most at risk are those that are free and clear -- meaning there is no mortgage registered against them. Why? Because there is no lender in the picture watching for red flags or verifying identity on an ongoing basis. The title stands alone, and if a fraudster can impersonate you convincingly, there is little standing between them and a fraudulent transaction.

The Simple Protection: Pull Your Duplicate Title

Here is the good news: there is a low-cost, highly effective way to protect yourself, and it does not require a lawyer or any ongoing fees.

If your property is mortgage-free, you can apply to obtain the duplicate certificate of title through the BC Land Title and Survey Authority (LTSA). This is a physical document that acts as an extra layer of proof of ownership. The key protection it provides: in most cases, a property cannot be sold or have a new mortgage registered against it without the duplicate title being surrendered. A fraudster who does not have this document faces a major roadblock.

The cost? Under $100. You can apply for it yourself, or have your lawyer handle it for you.

Once you have it, store it somewhere safe -- a home safe, a safety deposit box, or leave it with your lawyer for safekeeping. The one thing you must not do: lose it. A lost duplicate title can be replaced, but it is a process, and in the meantime your protection is reduced.

What About Investment Properties?

This protection is especially important for investment properties -- rental properties, recreational properties like cabins or ski condos (yes, like Big White), or any real estate that you do not live in full-time. Why? Because you are less likely to notice something suspicious right away. Absentee owners are a favourite target for title fraudsters precisely because there is less day-to-day oversight.

If any of your properties are free and clear, please take this seriously. The protection is affordable and the peace of mind is priceless.

Title Insurance: A Second Layer of Defence

If you have not already, it is also worth reviewing whether you have title insurance on your BC properties. Unlike a home insurance policy, title insurance protects you against losses arising from title-related issues -- including fraud. It is typically a one-time premium paid at the time of purchase, and it can be purchased retroactively in some cases.

Title insurance alone will not stop fraud from happening, but it can make you whole financially if you become a victim. Think of the duplicate title as your lock on the front door, and title insurance as your alarm system.

Take Action Today

You have worked hard to own real estate in BC. Do not let a fraudster take that away from you. Here is a quick checklist to get you started:

•       Check if any of your BC properties are mortgage-free (free and clear of financial charges)

•       If they are, apply for the duplicate certificate of title through the LTSA -- or ask your lawyer to do it for you

•       Store the duplicate title securely and do not lose it

•       Review your title insurance coverage -- or ask your lawyer or realtor whether you have it and whether it is up to date

If you are looking for a local real estate expert in South Surrey, White Rock, or the Fraser Valley to help you get ahead in the market, feel free to reach out. I am here to help.

If you have been trying to buy your first home in British Columbia and the numbers have not quite worked, there is finally some real, actionable good news. A new federal program is now in place that could save first-time buyers up to fifty thousand dollars on a new home. It is called the First-Time Home Buyer GST Rebate, and it is now officially law.

For buyers across the Fraser Valley, South Surrey, White Rock, Langley, and Greater Vancouver, this could be the opportunity that makes homeownership possible.

Watch the Full Breakdown

What Is the First-Time Home Buyer GST Rebate

The First-Time Home Buyer GST Rebate became law when Bill C-4 received Royal Assent on March 12, 2026. The Canada Revenue Agency can now process rebate claims.

Here is how it works.

First-time buyers can receive a full GST rebate on newly built homes priced up to one million dollars. On a one million dollar home, that equals up to fifty thousand dollars in savings.

For homes priced between one million and one and a half million dollars, the rebate is gradually reduced. Above one point five million dollars, the rebate no longer applies.

This is one of the most impactful affordability programs introduced in years and is specifically designed to help first-time buyers enter the BC real estate market.

Why This Matters Right Now in the Fraser Valley Real Estate Market

Timing in real estate matters, and right now several key factors are aligning.

Home prices across many Fraser Valley markets have softened compared to peak levels. Interest rates have come down from the highs we saw in previous years. Now, with the addition of the GST rebate on new homes, first-time buyers have a significant financial advantage.

These conditions do not often happen at the same time. For buyers who have been waiting, this could be a key opportunity to enter the market with stronger purchasing power.

Who Qualifies for the GST Rebate

The eligibility rules are straightforward.

You must be at least 18 years old. You must be a Canadian citizen or permanent resident. You cannot have lived in a home that you owned, or that your spouse or common-law partner owned, in the current year or the four previous calendar years.

The rebate applies to newly built homes purchased from a builder, owner-built homes, substantially renovated homes, and co-operative housing.

Another major benefit is that this rebate can be combined with the existing new housing rebate. This means first-time buyers may qualify for multiple rebates, significantly increasing total savings.

Important Dates You Need to Know

To qualify for the GST rebate, timing is critical.

Your purchase agreement must have been signed on or after March 20, 2025. Construction must begin before 2031 and be completed before 2036. You typically have up to two years after completion to apply.

If you already purchased a new home after March 19, 2025 and meet the criteria, you may already qualify. The Canada Revenue Agency is now processing claims, so it is important not to leave that money unclaimed.

How Much Can You Save

The potential savings are significant.

On a one million dollar new home, the rebate can return up to fifty thousand dollars. Even for homes priced above that range, partial rebates can still result in substantial savings.

There are online calculators available from real estate law firms that allow you to estimate your exact rebate based on purchase price and eligibility.

What This Means for First-Time Buyers in BC

For first-time home buyers in South Surrey, White Rock, Langley, and the Fraser Valley, this program could be a game changer.

Lower interest rates, stabilized home prices, and direct government incentives are creating a much more accessible entry point into the market.

This is not just about saving money. It is about creating opportunity.

Final Thoughts

The First-Time Home Buyer GST Rebate is one of the most important tools available to buyers right now. It can make a real difference in whether a purchase is possible.

If you are a first-time buyer and want to understand how this applies to your situation, reach out. There is no pressure, just clear advice.

If you know someone trying to break into the market, share this with them. Many buyers still do not know this rebate exists.

If you are looking for a local real estate expert to help you get ahead in the Fraser Valley market, I am here to help.