The average price of a detached home in both regions also fell year over year, however the price of townhomes and apartments went up.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Detached houses were on average $1,856,800, a 1.7 per cent decrease from last year and a 1.9 per cent decrease compared with October 2022. “With the most recent core inflation metrics showing a stubborn reluctance to respond significantly to the furious pace of rate increases, the Bank of Canada may choose to act more forcefully to bring inflation back toward target levels,” said Andrew Lis, REBGV director, economics and data analytics, in a statement.Article content
The price of townhomes and apartments also dipped slightly in November, but they were still higher year over year. The average price of a townhouse was down 1.3 per cent to $799,400 compared with October. However, this was an increase of 3.3. per cent over the same month last year.Article content “The trends we’ve seen over the past several months will likely continue through to year-end,” said Sandra Benz, president of the Fraser Valley Real Estate Board, in a statement.
Let the prices hit the floor
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