With the federal government trying to pump the brakes on inflation through interest rate hikes, housing sales remain pretty strong in Saskatchewan.

“As expected, gains in lending rates are having some cooling impacts on the housing market causing consumers to seek out more affordable options.”  according to Chris Guérette, CEO of Saskatchewan Realtors Association. “The challenge will be product availability in the lower price ranges of the market. Supply levels are improving compared to earlier in the year, however, the year-over-year decline in inventory has been driven by homes priced below $400,000,”

Overall sales were down in July compared to last year, which set new highs for house sales in Saskatchewan.

Regina bucked that trend somewhat, with a one percent increase in sales, compared to last year’s record year. However fewer listings has the inventory of available houses down 13 percent compared to last year.