COVID-19 Update: New Public Health Measures
The Government of Saskatchewan has announced new regulations around mandatory masking and a proof of vaccination (or negative test) policy. The provincial mask policy will apply to all public indoor spaces, effective Friday, September 17, 2021. Therefore, all Realtors® and clients will be required to wear masks during showings and open houses. Proof of vaccination will begin October 1, 2021 and will apply to specific establishments, businesses and event venues. Real Estate is a professional service and a proof of vaccination policy is not required. The SRA continues to monitor the situation closely and will provide more information as it becomes available. These recommendations are subject to change as we follow the lead of the Saskatchewan Health Authority and Chief Medical Health Officer, Dr. Shahab. New public health measures on mandatory masking (on indoor public spaces) and proof of vaccination can be found here. Open will continue to be permitted [...]
September Media Release: August Market Statistics
SHIFT TO MORE BALANCES CONDITIONS WILL HELP SUPPORT MORE STABILITY IN PRICES September 07, 2021 For immediate release: For the second month in a row, sales in the province slowed relative to activity recorded earlier in the year and sales last August. While sales declined by nearly 12 per cent compared to last August, levels remain above long-term trends. “Last year, August sales hit a new record high for the month, so while the year-over-year decline this month seems significant, it is important to note that sales are still at levels that are far better then what were seen in August prior to the pandemic. Sales have been far stronger than anyone expected throughout the pandemic, and recent shifts are likely a reflection of the market returning to more normal levels as the rest of the economy starts to recover,” Comments Chris Guérette, Saskatchewan REALTORS® [...]
SRA Responds to Liberal Party’s Housing Plan
Criminalizing the way Canadians sell their homes is not an effective solution to address local housing challenges. August 25, 2021: The Saskatchewan Realtors Association (SRA) is pleased to see all parties focus on housing affordability during this election. “A debate surrounding what it takes to focus on a healthy housing continuum absolutely should be taking center stage given the importance it has of building individual and family wealth, and in turn a strong economy,” comments Chris Guérette, SRA CEO. As the province with the highest percentage of millennials, Saskatchewan knows well that housing affordability and choice is important for its population and future growth. SRA stands firmly on the side of Saskatchewan homeowners and believes that more housing means more opportunity, more choice, and a healthier housing continuum in our province. And a healthy housing continuum means choice and accessibility in moving up and down that continuum. It’s a cornerstone of a growing economy. Regulating real estate through the criminal code is not a housing plan. Yesterday, Liberal Leader Justin Trudeau unveiled his party’s housing plan which [...]
August Media Release: July Market Stats
PACE OF PRICE GROWTH SLOWS WITH A SHIFT TO MORE BALANCED CONDITIONS August 06, 2021 For immediate release: Following exceptionally strong sales over the last three months, July sales in the province trended down to 1,528 units. Last July sales hit a new record high for the month, so while sales did record a year-over-year decline of 15 per cent, levels are still well above typical levels seen in July. Nonetheless, year-to-date sales are at record high levels thanks to the strong start to the year. Prior to the start of the pandemic, active listings were high in comparison to sales and prices were trending down. “While covid likely caused many to re-evaluate their housing needs, reductions in lending rates combined with earlier price declines supported much of the growth in sales,” comments Chris Guérette, Saskatchewan Realtors® Association CEO. “At the same time supply levels [...]
Bank of Canada Interest Rate Announcement – July 14, 2021
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent target. The Bank projects that will not occur until the second half of 2022. The Bank announced that it is adjusting its quantitative easing (QE) program down to purchasing $2 billion per week Government of Canada bonds per week. In the statement accompanying the decision, the Bank noted that it expects a strong pick-up in economic growth over the second half of the year as vaccinations progress and restrictions are lifted. The Bank expects growth of close to 6 per cent this year, followed by 4.5 per cent growth in 2022. [...]
OPEN HOUSES RETURN
Following Premier Moe's last news conference on the Covid-19 pandemic response this week, public health restrictions have been lifted. North & South Service Centres Open to Public The Entire SRA team is excited to welcome everyone back as we re-open our doors to the public and prepare for the return of open houses. All Current Restrictions Will be Lifted, Including for Showings. Open Houses allowed. Open houses are permitted as of July 12. Masking will not be required. Business owners and sellers alike, still have the right to request masks be worn inside their homes or businesses. COVID questionnaires and forms will not be required or maintained. All current MLS® Rules and Association Member Conduct Policies will revert to their pre-pandemic status. Limits for home inspections will be removed. Remember to seek permission from the homeowner.