Chilliwack-area real estate sales slow to a trickle in November

CHILLIWACK — Real estate transactions in the greater Chilliwack area and surrounding communities slowed to a trickle in November, as higher benchmark interest rates may be dissuading prospective home buyers from moving forward.

The Chilliwack and District Real Estate Board released its monthly real estate sales showing a continued slowdown in market activity as only 70 single-family homes sold in the CADREB jurisdiction, which encompasses Chilliwack, Agassiz, Hope, Boston Bar and Harrison.

In November 2021, back when interest rates were lower a year ago, 149 single-family homes were sold along with 87 attached townhouses, 50 apartments, 10 mobile homes, and eight homes with acreage.

Fast forward to November 2022 in which 70 single-family homes changed hands, along with 33 attached townhouses, 32 apartments, eight mobile homes, and two homes with acreage.