Fraser Valley Regional District Monitor
https://www.fvrd.ca/assets/About~the~FVRD/Documents/RGS/2023%20RGS%20Monitoring%20Report.pdf
Housing prices in the FVRD have increased considerably in recent years, reducing the affordability of housing in the region. In 2022, the average residential sale price reported by the Fraser Valley Real Estate Board (FVREB) was nearly 1.1 million, an increase of 56% in five years. While the Chilliwack and Area Real Estate Board (CADREB) reported an average sale price of approximately $810,000, an increase of 75% in five years. The Canadian Mortgage and Housing Corporation (CMHC) notes that surges in house prices in nearby housing markets such as Metro Vancouver have resulted in increased migration to regions such as the FVRD, resulting in further pressure on housing supply and increases in price1 . CMHC also notes that the COVID-19 pandemic has further increased demand for housing in the region due to an increase in remote work and a desire for increased living space2 .