The Canadian real estate market saw a notable shift this August, with home sales dropping 6.9% compared to last year. Despite this dip in activity, the average home price edged up 0.6% to $668,219. We're also seeing more new listings and rising inventory, signaling that more options are coming to the market. However, ongoing economic headwinds and higher mortgage rates could present some challenges as we look toward 2027. Having guided clients through neighborhoods like Abbotsford West, Cloverdale, and Surrey, Iām always watching these trends closely to help buyers and sellers make informed decisions.
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