NEW NETWORK FORMED TO SUPPORT HOUSING IN SASKATCHEWAN
May 11, 2022 For immediate release: The Saskatchewan real estate and housing sector is announcing today that five prominent stakeholders have formed a network to promote collaborations towards the wellbeing of Saskatchewan’s housing continuum. The new partnership, named Saskatchewan Housing Continuum Network (SHCN), is a network of associations who individually, and now collectively, promote a healthy housing continuum as the cornerstone of Saskatchewan’s competitive edge. The five founding partners stand for all segments of the housing continuum: Habitat for Humanity Saskatchewan (HHS), the Regina & Region Home Builders’ Association (RRHBA), the Saskatoon & Region Home Builders’ Association (SRHBA), Saskatchewan Landlord Association (SKLA) and the Saskatchewan REALTORS® Association (SRA). “This is really a key moment for Saskatchewan,” comments Cam Choquette, CEO of the SKLA. “We are quite thrilled to solidify our collaboration to benefit housing in our province.” “It’s imperative we understand the Saskatchewan housing supply reality and start preparing [...]
April 2022 Market Stats
APRIL SALES LOW BUT PRICES REACH RECORD HIGHS DUE TO LOW SUPPLY May 5, 2022 Embargoed: With 1,547 sales this month, activity slowed compared to the record high set last April. Despite the slower sales seen in the first four months of this year, it is noteworthy that those 4,873 sales are 30 per cent higher than longer term trends. “While rising lending rates are likely contributing to some of the pullback in sales, another challenge limiting sales has been the drop in supply choice, especially in the larger markets of the province,” said SRA CEO, Chris Guérette. New listings in April were 18 per cent lower than last year’s levels and inventories remained 20 per cent lower than last April and over 30 per cent below long-term trends. Lower levels of sales and lower inventory levels prevented any notable change in the months of supply, which remained below [...]
March 2022 Market Stats
SUPPLY LEVELS REMAIN LOW CAUSING CONTINUED PRICE INCREASES For immediate release: Both sales and new listings trended up this month compared to levels seen over the past few months. However, the level of new listings coming onto the market was far lower than levels seen last year and for the 10-year average. This caused the sales to new listings ratio to rise and prevented any notable change to the supply situation. With 5,648 units in inventory, levels are nearly 30 per cent lower than what we traditionally see in the market in March. “March is typically the month that we start to see more people listings their homes adding supply to the market. While we did see more new listings compared to the winter months, it hasn’t been enough compared to the sales to make any significant change in supply, resulting in further price gains in the market,” said [...]
February 2022 Market Stats
“Last month we started to raise an alarm bell about inventory levels in Saskatchewan,” said Guérette. “Now that we’re two months into the market, that dip in inventory levels being the lowest we’ve seen since 2010 is concerning. That’s why we’re working harder than ever to build a fuller picture of Saskatchewan’s housing continuum so we can identify where the gaps are and build smartly and collaboratively for growth.”
January 2022 Market Stats
“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.
December 2021 Market Stats
Saskatchewan set a housing sales record with 17,387 sales in 2021, a new high which surpassed the previous record in 2007 by 17 per cent.