Overall housing supply continued to grow in July as sales dropped to their lowest point this year since January.
The Fraser Valley Real Estate Board processed 1,290 sales of all property types on its Multiple Listing Service® (MLS®) in July, a decrease of 33.4 per cent compared to the 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018.
Of the 1,290 sales processed last month 346 were townhouses and 337 were apartments, together representing 53 per cent of all transactions in July.
Active inventory for the Fraser Valley in July finished at 7,399 listings, increasing 3.6 per cent month-over-month and 23.9 per cent year-over-year.
“Despite a much healthier level of inventory, demand continues