June 2020 Newsletter
Andy Schildhorn • June 15, 2020
Hello and Welcome to our June Newsletter.
Summer is approaching and we are all coming out of COVID hibernation. It's wonderful, we are getting slowly back to normal however it is still advised to be cautious and maintain our 6’ protocols.
Our Market Update states Mortgage rates are at an all-time low. Money might be cheap however Buyers are cautious about economic uncertainty.
Our Featured Listing
is 20931 45A Avenue located in the Langley Uplands. This home boasts a 12,000sq.ft lot with plenty of room to raise your family. A bit of a treasure.
Our Langley Infographic
shows us pricing still went up last month with sales volume low. Again this is brought about due to a lack of inventory.
Every Saturday morning our family heads over to the Fort Langley Farmer’s Market. Lots of local fresh farm produce. Right now a special treat are the live spotted prawns.
Rita Cousins, Mortgage Broker talks about the 20% down payment requirements
and how this affects insured and non-insured Buyers
Irina Bartnik Notary Public, asks the question. Do you know you may be able to defer your Property Taxes this year?
Lastly and just recently announced, CMHC has new restrictions for insured buyers. This could lower purchasing power by up to 11%. Interestingly Genworth and Canada Guaranty, the two other home insurers, will not adopt these new rules.
Well, that is it for this month. In all this confusion and uncertainty, real estate is recovering. Plans which were put on hold are now becoming a reality. As always I welcome your call to put your plans into reality.
Thanks for dropping by, Have a Great Day and I look forward to hearing from you soon!
Fraser Valley home prices have now fallen for seven straight months — here’s what it means for buyers and sellers. π October 2025 Fraser Valley Market Overview Fraser Valley home prices have now fallen for seven straight months — the longest correction since 2019. According to the Fraser Valley Real Estate Board’s October report: π Sales: 1,123 homes sold (+17% MoM / –16% YoY) π Active Listings: 10,121 (+15% YoY) π Sales-to-Active Ratio: 11% → firmly a buyer’s market π° Benchmark Prices π‘ Detached: $1,411,900 (–0.6% MoM / –5.1% YoY) ποΈ Townhomes: $786,000 (–1.2% MoM / –5.6% YoY) π’ Condos: $506,400 (–0.8% MoM / –6.8% YoY) π Composite: $919,900 (–0.7% MoM / –5.3% YoY) πΉ Interest Rates & Economy The Bank of Canada rate holds at 2.25%. Inflation is easing, but tariffs and a slower global economy add uncertainty. Major banks remain split — some expect stability through 2026, others forecast small rate cuts next year. π¬ Real Client Story One of my recent clients moved from Vancouver Island to Langley to be closer to family — proof that even in a slower market, the right timing and strategy still create success. π Read her review: π https://rankmyagent.com/agent/reviews/171562 π§ What This Means for You If you’re buying, inventory is strong and competition is light. If you’re selling, pricing for today’s reality — not last year’s memory — is key. After seven months of price declines, the market is recalibrating — not crashing. With realistic pricing and a clear plan, opportunities are still out there.
This year, as they have for years, thousands are again expected to attend Remembrance Day in Fort Langley and honour the memory of the community’s war dead at the largest memorial service in the Langley area. π More Details Here
This top-floor home features a spacious layout, ample natural light, and a quiet location, just steps from shopping, parks, and public transit. Whether you're downsizing or buying your first home, this is one you’ll want to see in person. πMore Details Here
