Saskatchewan House prices remain stable in March
The Canadian Real Estate Association says the average price of a Canadian home sold in March was $481,745, a drop of 1.7 percent from March of 2018.
The CREA says prices were lower, on average, and the number of homes sold was also down by 4.6 per cent compared to March of last year.
Spring is usually the busiest time of year for home sales, but this year was the weakest March for home sales since 2013.
The CREA numbers show that average house prices in Saskatchewan dropped by 0.7 percent in March, which means that home prices in the province remain among the most stable in the country.
The CREA says prices in Regina were down 4.6% from March of 2018, and in Saskatoon, they were down by 2.7 % from March of 2018.
“March results suggest local market trends are largely in a holding pattern,” CREA’s chief economist Gregory Klump said. “While the mortgage stress test has made access to home financing more challenging, the good news is that continuing job growth remains supportive for housing demand and should eventually translate into stronger home sales activity.”
Story courtesy CBC News