Conference Board calls Saskatchewan's housing market balanced

August 25, 2012 - The resale housing market in Saskatchewan was considered balanced in July, according to The Conference Board of Canada's Metro Resale Snapshot-August 2012 In Saskatoon the average price in July was up 8.4 per cent compared to June at $318,056. Year over year house prices were up 3.9 per cent.

In Regina the average prices dipped 2.7 per cent from June to $290,089. But year over year July's average price was almost 12 per cent higher than July 2011.

The report's short-term year-over-year growth expectations was seven per cent for both cities.

Nationally, sales of existing homes eased in July. Transactions were below June volumes in 18 of the 28 markets covered in the report.

"The dips were mainly small, since volumes dropped five per cent or more in only six areas," the report said. "Still, sales now lag their year-earlier level in 13 areas, with four suffering at least a five per cent drop."

New listings declined in 13 areas between June and July and were behind their previous year's volume in 16 markets.

Falling listings suggest markets are cooling, as potential homeowners await better selling conditions, the report said.

Average prices dropped in 20 of 28 markets in July from June but remain above July 2011 levels in 21 areas. Quebec City and Thunder Bay led the year-over-year price gainers, each posting a 14 per cent rise.

Conference Board calls Saskatchewan's housing market balan