FRASER VALLEY HOUSING MARKET GETS ITS GROOVE BACK (Surrey, BC) – Buyers and sellers in the Fraser Valley took advantage of the record breaking hours of sunshine in July as both sales and listings on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) experienced a noticeable lift. The Board processed 1,456 sales in July, an increase of 5 per cent compared to the 1,393 sales in July of last year and 10 per cent more than were processed in June. By historical comparison, sales in July ranked sixth going back to 2004. For over a year, monthly sales in Fraser Valley have been trending at 10-year lows. Ray Werger is the President-elect of the Board. “Buoyancy during the summer is rare at the best of times and yet I’ve just experienced the busiest July in my 20 plus years as a REALTOR®. To jump from the worst June in 10 years to a slightly below average July may not sound unusual or unexpected but it was. “We’re likely experiencing some pent-up demand coming off some very slow winter months, tiny changes in mortgage rates are always incentive for many buyers, and let’s not underestimate our glorious weather. For our buyers and sellers, a return to a normal, balanced market is welcome news.” In July, Fraser Valley’s sales-to-active-listings ratio – a comparison of sales and inventory that measures the health of the market – was 14 per cent for all property types and 18 per cent for single family detached homes and townhomes indicating stability in the marketplace. The Board received 2,777 new listings in July – 5 per cent fewer than received during the same month last year, but 6 per cent more than were received in June – leaving the volume of active properties at 10,428 a …