Saskatchewan has “taken the mantle of the hottest housing market in the country,” according to a new report issued by TD Bank.
They pin their assessment on house prices which have risen at an annualized rate of more than 10-percent in four of the first eight months of the year.
Robust job growth underpins this marketplace which is uniquely blessed: prices may be rising but affordability remains “relatively decent” as available inventory remains remarkably tight as new starts are not keeping up to a population that is growing and has purchasing power.
The bank expects this situation will continue into next year as it is forecasting Saskatchewan will out-perform most regions of the nation in terms of economic growth through 2026 and we likely won’t see any slowing in job creation until 2027.
As a result, Saskatchewan and Manitoba are leading the country when it comes to sales compared to listings. We are running about 15-percent ahead of historical levels on this metric while Canada as a whole is about 15-percent behind the traditional pace.
