Falling prices open the door for Fraser Valley move-up buyers

SURREY, British Columbia, June 02, 2026 (GLOBE NEWSWIRE) — A modest increase in Fraser Valley home sales in May suggests buyers remain engaged, albeit cautiously as economic uncertainty continues to temper the pace of the spring market.

The Fraser Valley Real Estate Board recorded 1,124 sales on its Multiple Listing Service^® (MLS^®) in May, a 0.5 per cent increase from April, but five per cent below the same month last year. Single-family homes remained the most active segment of the Fraser Valley market in May, generating more sales than townhouses and apartments.

“We’re seeing limited activity from first-time buyers right now, with much of the market being driven by homeowners looking to move up,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “As prices in the detached segment have become more attainable, buyers with existing equity are finding opportunities to transition into larger homes and market segments that were out of reach just a few years ago.”

Sellers were less active in May, with new listings falling both month-over-month and year-over-year as some homeowners appear to be waiting for stronger market conditions before listing.

However, the Fraser Valley continues to offer buyers an abundance of choice, with 10,140 active listings on the market in May, keeping inventory well above historical norms.

With a sales-to-active listings ratio of 11 per cent in May, the Fraser Valley remains in buyer’s market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

“Many households are understandably approaching major financial decisions with caution right now,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Between economic uncertainty, concerns about job security, and the continued pressure of higher everyday costs, confidence has been slow to recover. At the same time, buyers who are financially prepared are finding some of the most favourable market conditions we’ve seen in some time.”

Across the Fraser Valley in May, the average number of days to sell a single-family detached home was 35 days, while for a townhome, it was 37 days. Condos took, on average, 40 days to sell.

After two months of gains, the composite Benchmark price for a typical home in the Fraser Valley dipped, down 0.7 per cent in May, to $893,300.

MLS^® HPI Benchmark Price Activity

• Single Family Detached: At $1,366,500 the Benchmark price for an FVREB single-family detached home decreased 0.6 per cent compared to April 2026 and decreased 7.9 per cent compared to May 2025.
• Townhomes: At $769,500 the Benchmark price for an FVREB townhome decreased 0.3 per cent compared to April 2026 and decreased 7.6 per cent compared to May 2025.
• Apartments: At $483,800 the Benchmark price for an FVREB apartment/condo decreased 1.5 per cent compared to April 2026 and decreased 8.8 per cent compared to May 2025.

* The Fraser Valley Real Estate Board represents some 5,000 real estate professionals, and is the exclusive source of statistics and information for the Fraser Valley real estate market including, Surrey, Langley, Abbotsford, Mission, White Rock and North Delta.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fe06ef2-a7e4-4ba9-98da-cb92dff83ecf