The housing market in Saskatchewan remains quite tight, but January of 2022 produced the initial signs that the market could be headed towards a closer balance between buyers and sellers.
The monthly report on residential real estate activities from the Saskatchewan Realtors Association identified the early signs of a trend.
Sales activity is trending downward in every region of Saskatchewan. But, in Moose Jaw, it was exceptionally notable, which prompted the association to say it is too early to be calling this a trend but the Moose Jaw market is one to watch.
The number of listings rose a bit through January even though they are still well below historical levels. Prices continue to move up in every part of the province with Estevan showing the most modest gains and Melville at the high end with an increase of 16 per cent.
Nonetheless, it can be taken as a sign that buyers are getting choosier just as more sellers arrive on the scene. Interest rates are poised to rise with potential to dampen activity even further as the year progresses.
