“Inventories still remain relatively low, but if new listings continue to improve relative to the sales, this should eventually translate into improved supply and better market balance,” said SRA CEO, Chris Guérette.
Supply levels did not keep up with the sudden shift in sales. New listings this month totaled 1,521 units, causing the sales-to-new- listings ratio to rise to nearly 90 per cent, the tightest level ever recorded in November. Without the same growth in new listings inventories eased and the months of supply fell to four and a half months.
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.
“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.