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® [...]
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 [...]
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 [...]