The Tale of Two Real Estate Markets

As Saskatchewan enjoys some of the most affordable housing in the country, it sometimes can be a bit of fun or gloat-worthy to check out what’s happening in other parts of the country.

A new assessment on the housing market issued by TD Canada Trust points to earlier forecasts sayings the explosive housing market in the biggest cities in the first few months of the year was unsustainable. And now, after the second quarter, they are able to say….see, we told ya so!

Demand has shifted in places like Toronto…back in January people were turning their backs on more affordable downtown condos in favor of bigger houses in the suburbs as buyers wanted to add a yard and some living space.

Well, that appears to have subsided. Cheaper downtown properties are fashionable again and the 20-percent price increases were too much for buyers who also faced tougher mortgage qualification rules. And at the same time, things out here were quite steady – price increases were far more moderate with Regina being the most affordable market in the country and Saskatoon not far behind.