Despite a seasonal increase in monthly sales, the Fraser Valley housing market continues to contend with subdued demand, ample supply and cautious buyers, with little change in the balance between buyers and sellers.

FOR IMMEDIATE RELEASE

–VANCOUVER, BC –

Home sales and new listings registered on the MLS® in Metro Vancouver* fell roughly ten per cent relative to October last year, respectively.

The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.

Since the July Monetary Policy Report, global economic activity has remained resilient, despite higher energy prices. In the United States, the...