A report from the Saskatchewan Realtors Association states that supply challenges persist in the spring housing market.  CEO Chris Guerette says demand for homes has remained relatively strong so far this year, but the industry is struggling with lower supply levels, which is raising the prices.

Home sales in May were down 1.8 per cent from last year’s record, but remain well above the typical activity for this time of year.  There were 1,814 home sales in May.
That’s down from last year, but Guerette adds that it’s an over 26 per cent rise on a ten year average.

Year-to-date, sales are down 10.8 per cent compared to last year, but still above the ten year average by 27.4 per cent. She says that rising lending rates are expected to have some cooling impacts on housing demand.

In the Saskatoon area, comparing May of 2021 and 22, sales are down 5 per cent, while in Regina, sales rose by 9 per cent. The Melfort region had the largest decline at 30 per cent and the highest rise was Moose Jaw and area with a sales increase of 13 per cent.

SRA’s May sales comparisons
Saskatoon Region -5%
Regina Region 9 %
Melfort Region -30%
Moose Jaw Region 13%
North Battleford Region -14%
Prince Albert Region -14%
Swift Current Region -17%
Yorkton Region 6%
Southeast Saskatchewan -11%