fraser valley real estate boardAccording to the Fraser Valley Real Estate Board there are two different markets in the Fraser Valley area: A sellers market for detached homes and a buyers market for apartments and condos.

Board president Jorda Maisey says detached homes are becoming more rare, while much of the available land is being used for apartment construction by developers looking to maximize what they can get out of an acre.

“As land gets used up there is going to be less available land to build a detached home and of course in the Fraser Valley we have a lot more situations of ALR land so there’s restrictive land uses.”

Maisey says this is good news for the first time homebuyer who may be looking at an apartment as their starting point.