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 [...]
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent target. The Bank projects that will not occur until the second half of 2022. The Bank announced that it is adjusting its quantitative easing (QE) program down to purchasing $2 billion per week Government of Canada bonds per week. In the statement accompanying the decision, the Bank noted that it expects a strong pick-up in economic growth over the second half of the year as vaccinations progress and restrictions are lifted. The Bank expects growth of close to 6 per cent this year, followed by 4.5 per cent growth in 2022. [...]
Following Premier Moe's last news conference on the Covid-19 pandemic response this week, public health restrictions have been lifted. North & South Service Centres Open to Public The Entire SRA team is excited to welcome everyone back as we re-open our doors to the public and prepare for the return of open houses. All Current Restrictions Will be Lifted, Including for Showings. Open Houses allowed. Open houses are permitted as of July 12. Masking will not be required. Business owners and sellers alike, still have the right to request masks be worn inside their homes or businesses. COVID questionnaires and forms will not be required or maintained. All current MLS® Rules and Association Member Conduct Policies will revert to their pre-pandemic status. Limits for home inspections will be removed. Remember to seek permission from the homeowner.
SASKATCHEWAN REAL ESTATE MARKET IS STEADY AND STRONG July 08, 2021 For immediate release: The Saskatchewan real estate market remains strong. Across the province, there were 1,914 homes sold (up over almost 12% from last June and up 65.7% year-to-date, going from 5,690 to 9,427), new listings were down 2.6% (but up 20.0% year-to-date, going from 2,174 to 2,608) and the MLS® Home Price Index (HPI) composite was up 9.8% (up 8.9% year-to-date, going from $262,700 to $288,500). Inventories—a measure of how many months until there are no active listings given current sales levels— were also down in 23 of the 24 markets that the SRA tracks. “The market continues to level off from the highs seen earlier this year,” said Chris Guérette, SRA’s CEO. This month-over-month leveling off in activity is expected and is being seen across the country. “As more people get their COVID vaccines [...]
Every month we will spotlight an SRA REALTOR® who is going above and beyond. We know many of you are involved in your communities, are doing exceptional work and we want to highlight those achievements. Robyn Luthi works as a REALTOR® in Melfort with Coldwell Banker Signature We sat down with Robyn (virtually) to ask her a few questions about her involvement in her community and her career as a REALTOR®. What made you decide to become a REALTOR®? I was feeling burnt out from my previous career as a social worker and my husband encouraged me to change careers and go into real estate, which was a great fit with our construction business. I have loved every moment of it. 2. What do you love most about your job? I love being able to help people find they property they fall in love with. Whether it be [...]