Housing Markets Suffer Decline in 2015, Optimism for 2016

Saskatoon Homepage - The Saskatoon Region Association of Realtors says a struggling economy last year didn't make a significant impact in the housing market.

The Association says the real estate market averaged a 13% decline year over year.

However, he says 2014 was an exceptional year, so a better comparison might be to 2013, where housing sales are about even.

There was also a shift towards the buyers market with a sales to listing ratio of 40%.

As for pricing, the average price for a home only dropped 1% per cent, selling at $354,000.

Yochim says with a recovery in sales in late December and more activity in January, they are optimistic about 2016.

However, he says that recovery might not be seen until the second quarter of the year.

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