Saskatchewan REALTORS® Association (SRA) Government Relations Committee members fanned out across the province earlier this month to support The Canadian Real Estate Association (CREA) and REALTORS® to advocate for increased supply and partnerships with other orders of government and unlocking homeownership.
OCTOBER SALES REMAIN STRONG AS BUYERS LOOK TO TAKE ADVANTAGE OF LOW LENDING RATES November 04, 2021 For immediate release: Residential sales activity eased slightly over last year’s record highs. However, with 1,306 sales this month, levels are over 18 percent higher than long-term averages. “Despite challenges with the pandemic, housing demand in the province has remained exceptionally strong as many purchasers are looking to take advantage of the very low lending rates,” said Saskatchewan REALTORS®Association (SRA) CEO Chris Guérette. The monthly pullback in sales were met with even higher declines in new listings. This caused the sales to new listings ratio to rise to 68 percent and the inventory to fall to 6,836, over 10 percent lower than last year and nearly 20 percent below long-term averages. “One of the single greatest issues the Canadian real estate market faces, including in Saskatchewan, is the declining levels of housing [...]
Sales Ease as Supply Levels Remain Relatively Low October 06, 2021 For immediate release: Sales activity slowed relative to last year’s record highs but remained well above long-term trends. At the same time, the province also saw a pullback in the number of new listings in the market causing some easing in inventory levels. With adjustments in both sales and supply levels, conditions remained relatively unchanged as the sales to new listings ratio remained over 60 per cent and the months of supply stayed above five months. “Prior to covid, Saskatchewan had excess supply in the market. However, since July of last year, sales reached new record levels for most months, causing a steady decline in inventory levels. Over the past quarter we have seen that pace of sales ease from the record high; however, some of this can be related to declines in new [...]
“In the coming weeks and months, the SRA will be meeting with local Saskatchewan MPs to advocate our position on this particularly important issue through correspondence and during upcoming Virtual PAC Days being organized by CREA next month in October,” said Guérette.
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 [...]
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® [...]