Home sales in 91原创 and across the region remained at historically low levels in March, traditionally one of the busiest months of the year.

According to data released Tuesday by the Fraser Valley Real Estate Board (FVREB) there were 1,036 homes sold in March across the area that runs from North Delta through to Abbotsford and Mission. That's up 13 per cent from February's sales, but it's a full 26 per cent below last year's March sales numbers, and almost 50 per cent below the 10 year average for the month.

The FVREB's announcement noted this is the slowest start to the spring market in more than 15 years.

While homes are selling at a slow pace, more and more homes for sale are coming onto the market.

There were 9,219 homes listed for sale in March, with 3,800 of those new listings. The total inventory is at a 10-year high, 49 per cent above the same month last year, and 59 per cent above the 10-year seasonal average. The ratio of sales to listings suggests things are firmly in "buyers' market" territory, which has only happened a handful of times since 2014.

The chair of the FVREB blamed the uncertainty stemming from the U.S. government's threatened trade wars.

鈥淚f not for the economic uncertainty driven largely by U.S. tariffs, we鈥檇 likely be seeing a typical strong spring market in the Fraser Valley,鈥� said Tore Jacobsen. 鈥淚nstead, we鈥檙e seeing a disconnect as sellers remain hesitant to lower their prices beyond a certain threshold, while buyers, facing tighter financing conditions, are either unable or unwilling to meet it. The resulting inertia is keeping sales low.鈥�

Brendon Ogmundson, the chief economist for the B.C. Real Estate Association (BCREA), agreed that fear over the impact of tariffs were likely the major culprit.

Late last year and into January, the market in B.C. looked like it was picking up again, Ogmundson noted.

Then talk about tariffs began.

"Since then, sales have completely fallen off," Ogmundson said.

A lot of people are worried about their job security, he noted.

"If you're concerned about losing your job, you're a lot less likely to make a major life decision like buying a home," he said.

91原创 was not immune to the regional trends, with lower sales, higher numbers of home sellers, and stagnant pricing.

In March, 79 single-family homes sold across 91原创, down 8.1 per cent from the same month last year. There were 72 townhouses sold, a 20.9 per cent year-over-year decline, and 104 condos, which saw an uptick in sales of four per cent, the only type of home to see growth.

Meanwhile, more listings continued flooding onto the market, with 480 single-family homes for sale, a 52.9 per cent jump from March 2024, 282 townhouses, an 83.1 per cent increase, and 427 condos, a 49.3 per cent increase.

Despite sluggish sales and a large increase in supply, prices barely budged.

The benchmark price 鈥� the average price for a "typical" home of its type 鈥� for a single family home in 91原创 was $1,635,200, up 0.7 per cent from last year. Townhouses were going for $865,100, up 0.4 per cent, while condos saw a slight price decline to $611,900, down 1.4 per cent year-over-year.

The housing market has flattened out after a wild ride. In the first year of the pandemic, starting around mid-2020, prices for all types of homes shot up to record levels. The benchmark price for a detached house in the FVREB region went from about $1 million to more than $1.7 million by early 2022. Prices then dropped sharply, with houses bottoming out at around $1.35 million before a recovery in 2023 back to over $1.5 million.

After the roller coaster of 2020-2023, prices for all types of homes have stagnated, moving up and down slightly, but neither making sustained gains nor seeing significant drops.