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.
July 2021 Media Release & June Market Stats
SASKATCHEWAN REAL ESTATE MARKET IS STEADY AND STRONG July 08, 2021 For immediate release: The Saskatchewan real estate market remains strong. Across the province, there were 1,914 homes sold (up over almost 12% from last June and up 65.7% year-to-date, going from 5,690 to 9,427), new listings were down 2.6% (but up 20.0% year-to-date, going from 2,174 to 2,608) and the MLS® Home Price Index (HPI) composite was up 9.8% (up 8.9% year-to-date, going from $262,700 to $288,500). Inventories—a measure of how many months until there are no active listings given current sales levels— were also down in 23 of the 24 markets that the SRA tracks. “The market continues to level off from the highs seen earlier this year,” said Chris Guérette, SRA’s CEO. This month-over-month leveling off in activity is expected and is being seen across the country. “As more people get their COVID vaccines [...]
SRA Spotlight – Robyn Luthi
Every month we will spotlight an SRA REALTOR® who is going above and beyond. We know many of you are involved in your communities, are doing exceptional work and we want to highlight those achievements. Robyn Luthi works as a REALTOR® in Melfort with Coldwell Banker Signature We sat down with Robyn (virtually) to ask her a few questions about her involvement in her community and her career as a REALTOR®. What made you decide to become a REALTOR®? I was feeling burnt out from my previous career as a social worker and my husband encouraged me to change careers and go into real estate, which was a great fit with our construction business. I have loved every moment of it. 2. What do you love most about your job? I love being able to help people find they property they fall in love with. Whether it be [...]
June 2021 Media Release & May Market Stats
Saskatchewan real estate market remains steady June 3, 2021 For immediate release: Media Release 2021-06-03 The Saskatchewan real estate market remains strong. Across the province, there were 1,853 homes sold (up over 67% from last May and up 88.9% year-to-date, going from 3,978 to 7,513), new listings were up over 14% (and up 26.7% year-to-date, going from 2,019 to 2,556,) and the MLS® Home Price Index composite was up 11.2% (up 8.4% year-to-date, going from $265,800 to $288,300). Inventories—a measure of how many months until there are no active listings given current sales levels— were also down in all 24 markets that the SRA tracks. “May was about as strong April,” said Chris Gbekorbu, SRA’s Economic Analyst. This month-over-month leveling off in activity is expected. “Markets have been gaining momentum since last May when some pandemic restrictions were lifted. And at some point, things need to start to steady,” said [...]
CREA – 2021 Virtual Trade Mission
Hosted by: The Canadian Real Estate Association (CREA). Our membership is comprised of more than 135,000 real estate brokers, agents and salespeople who belong to real estate boards/associations across Canada. This event is held in English only. Register Grow your Canadian real estate market knowledge and REALTOR® network as we take a virtual trip across the country. Each stop will showcase information and presenters from local markets, including real estate updates and what makes these destinations unique. Ready to roll? Of course, it would not be a road trip without something to help pass the time. Each session will conclude with some roadside trivia and prizes. Also, if you join us for all Canadian destinations you will be entered in a draw for the chance to win a $500 gift card that could be used to come up and [...]