Inventory concerns grow as housing demand remains strong in Saskatchewan

While housing demand remains strong, the Saskatchewan Realtors Association says low inventory levels continue to be a concern in 2022.

Housing sales eased in Saskatchewan during February, but the Saskatchewan Realtors Association (SRA) said housing demand continues to remain strong.

However, Chris Guérette said inventory levels remain lower than they traditionally see.

Guérette, chief executive of the SRA,  said economic uncertainty is weighing on the housing market.

“While this could have some impact on demand, supply levels are still low providing some cushion should demand taper further,” she said in a release Thursday.

“Conditions also vary significantly based on location, property type and price range because real estate is very local.”

The SRA said there were 1,059 home purchases in February, down eight per cent from the same period a year ago.

However, the SRA said sale levels are more than 22 per cent higher than typically seen for this time of year and nearly 40 per cent higher than the average between 2010 and 2020.

The SRA said most of the decline in sales during February was in detached homes.