Saskatchewan provincial leaders discuss affordable housing at annual conference
Global News
The SRA State of Real Estate conference is underway, and the cost of new homes are on the rise. It’s good news for current homeowners, but some are concerned about future buyers.
The annual Saskatchewan Realtors Association (SRA) State of Real Estate conference is underway, showcasing the province’s strong realty market.
However, the meeting is also raising questions around housing affordability.
The cost of new homes, especially in Saskatoon and Regina, on the rise is good news for current homeowners, but some are concerned about future buyers. Increasingly unaffordable housing is making it tough for prospective homeowners to get in.
“It is definitely more attainable here than in other provinces, but sometimes that doesn’t resonate when people see the market and struggle and require a lot more patience to find what they’re looking for,” says SRA CEO Chris Guerrette.
The most recent data from Statistics Canada shows homeownership rates in the province are one of the highest in the country at 70.7 per cent.
In the face of cost of living, the high rates of homeowners are falling across the country.
“We know that across the country that number is going down, because affordability is a real challenge,” said Guerrette.
The province’s answer to increasing affordability has been to increase inventory.
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The SRA State of Real Estate conference is underway, and the cost of new homes are on the rise. It’s good news for current homeowners, but some are concerned about future buyers.
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