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SASKATCHEWAN’S HOUSING LEADERS RESPOND TO SASKATCHEWAN PARTY PLATFORM ANNOUNCEMENT

OCTOBER 4, 2024 FOR IMMEDIATE RELEASE SASKATCHEWAN’S HOUSING LEADERS RESPOND TO SASKATCHEWAN PARTY PLATFORM ANNOUNCEMENT Saskatchewan’s Housing Leaders strongly support Saskatchewan Party Leader, Scott Moe’s announcement that a re-elected Saskatchewan Party government will introduce a permanent Saskatchewan Home Renovation Tax Credit and increase the Saskatchewan First-Time Homebuyers Tax Credit. Under these proposed changes, homeowners will be eligible to claim a provincial tax credit of up to $4,000 in renovation expenses annually, resulting in savings of up to $420 per year. Additionally, the Saskatchewan First-Time Homebuyers tax credit will increase from $10,000 to $15,000, increasing the benefit from $1,050 to $1,575. When paired with the existing federal credit, first-time homebuyers will be eligible for a $2,325 benefit. “We’re thrilled to see the first housing-specific announcement of the 2024 provincial election campaign – with solutions pulling directly from the Secure Homes, Strong Future housing policy blueprint that was released to all parties [...]

MARKET WATCH >> SEPTEMBER 2024

NEAR-RECORD SEPTEMBER SALES DRIVEN BY STRONG DETACHED ACTIVITY October 4, 2024 For immediate release: Saskatchewan reported 1,398 sales in September, an eight percent year-over-year increase and nearly 15 percent above long-term, 10-year trends. September marked the fifteenth consecutive month of above-average sales in Saskatchewan, with sales levels across the province amongst the strongest ever reported for the month. Strong gains in the detached sector drove much of the year-over-year sales growth, accounting for nearly 73 percent of monthly sales. Sales levels also improved across nearly every region of the province, with year-to-date sales currently on pace to be the second highest on record. “Record population growth, favourable economic conditions, and an improving labour market continue to support strong demand in Saskatchewan’s housing market,” said Association CEO, Chris Guérette. “When paired with easing lending rates, these factors are, without question, contributing to a fifteenth consecutive month of above-average sales.” New [...]

STATE OF REAL ESTATE >> PURCHASE YOUR TICKET BY SEPTEMBER 22!

State of Real Estate is quickly approaching. Get ready to rethink, reinvent, and reimagine real estate. September 26 in Saskatoon. David Coletto As one of Canada's best-known and most respected public opinion analysts, David and his team at Abacus Data are a trusted source for housing data from coast to coast. When David speaks, decision-makers listen - and you'll want to hear what he says. Kathleen Black SHIFT: From Chaos to Calm leads audiences through a step-by-step guide to shifting out of burnout and into the elite space where high performance meets high reward. As one of the world's leading holistic performance coaches, Kathleen's passion is helping companies and teams unlock secret success strategies, unleash their personal power, and reclaim the calm in business and life. Lisa Piccardo Lisa Piccardo of T3 Sixty will delve into the evolution and transformation of the residential real estate industry, highlighting the latest [...]

SASKATCHEWAN’S HOUSING LEADERS LAUNCH HOUSING BLUEPRINT AHEAD OF PROVINCIAL ELECTION

SEPTEMBER 16, 2024 FOR IMMEDIATE RELEASE Saskatchewan’s Housing Leaders have released Secure Homes, Strong Future: A Housing Policy Blueprint for Saskatchewan ahead of the 2024 provincial election. The blueprint is built on grassroots consultations and expert research within the housing industry - providing insights and recommendations to support Saskatchewan’s housing continuum. Saskatchewan’s residential housing industry, including construction, rental, and real estate, faces a significant gap in housing inventory to accommodate future population growth. Secure Homes, Strong Future focuses on policy amendments and funding investments to support the province’s residential housing industry and provide homes for Saskatchewan’s growing population. Saskatchewan continues to attract, house, and employ people at record levels – a growing province means more housing units are required to ensure that the Saskatchewan advantage remains intact,” stated Saskatchewan’s Housing Leaders. “Our plan proposes common-sense ideas to build more affordable homes faster by improving affordability, unlocking development, lowering construction costs, [...]

MARKET WATCH >> AUGUST 2024

ABOVE-AVERAGE SALES CONTINUE TO DRIVE PRICE GROWTH IN AUGUST September 5, 2024 For immediate release: Saskatchewan reported 1,507 sales in August, a seven per cent year-over-year decrease but over 12 per cent above long-term, 10-year averages. Despite a slight pullback in sales, August marked the fourteenth consecutive month of above-average sales, and year-to-date sales remain seven per cent higher than levels reported last year. A modest gain in new listings relative to sales resulted in the sales-to-new-listings ratio trending down from levels reported over the last few months, preventing an even more significant monthly decline in inventory levels. However, inventory levels slid by 17 per cent year-over-year and remain 40 per cent below long-term averages. “Unlike many other parts of the country, sales in our province continue to outperform historical averages for a fourteenth consecutive month,” noted Association CEO, Chris Guérette. “Saskatchewan’s relative affordability, when paired with employment gains [...]

MARKET WATCH >> JULY 2024

STRONG SALES CONTINUE IN JULY DESPITE ONGOING INVENTORY PRESSURES August 7, 2024 For immediate release: Saskatchewan reported 1,667 sales in July, a seven per cent year-over-year gain and over 20 per cent above long-term, 10-year averages. The thirteenth consecutive month of above-average sales in the province has contributed to year-to-date sales that were 10 per cent above July 2023 and 19 per cent above the 10-year average. While new listings saw a modest year-over-year gain, this had little impact on inventory levels, which were down 20 per cent year-over-year and remain over 40 per cent below long-term trends. “Strong housing demand continues to support above-average monthly sales levels, preventing any significant inventory relief in many markets across the province,” said Association CEO, Chris Guérette. “Limited supply choice, specifically in the more affordable segment of the market, is likely preventing even stronger sales activity in our province.” Saskatchewan reported a [...]