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May 17, 2022 For immediate release: The Saskatchewan Housing Continuum Network today announced that Saskatchewan needs to build approximately [...]
May 12, 2022 For immediate release: Saskatoon, SK: The Saskatchewan REALTORS® Association (SRA) today dedicated its North Service Centre [...]
May 11, 2022 For immediate release: The Saskatchewan real estate and housing sector is announcing today that five prominent [...]
APRIL SALES LOW BUT PRICES REACH RECORD HIGHS DUE TO LOW SUPPLY May 5, 2022 Embargoed: With 1,547 sales [...]
SUPPLY LEVELS REMAIN LOW CAUSING CONTINUED PRICE INCREASES For immediate release: Both sales and new listings trended up this [...]
“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.”
“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.
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.
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.
