The housing market has cooled a little in Saskatchewan, especially when its compared to last year.
According to the Saskatchewan Realtors Association, sales province-wide were 1547 sales in April, down from the hot April of 2021.
The increase in interest rates is one of the reasons, but the bigger one is a lack of inventory, as fewer homes have been put on the market compared to April of last year.
“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.
In Regina the benchmark price for a home rose 4 percent to $271,000. In Saskatoon, the benchmark price for a home rose 3 percent, to $338,500.
