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For Week Ending August 22, 2015

 

For Week Ending August 22, 2015

The Bank of Canada has surprised market watchers this year by cutting interest rates and keeping them low. David Watt, Chief Economist at HSBC Bank Canada, recently predicted that the market could begin to see a slowdown as buyers begin to balk at prices. While home prices in the U.S. have only recently recovered after a long period of decline, Canada never stopped seeing increases. When the U.S. Federal Reserve raises rates, there is a likelihood of impact on the Canadian housing market. Careful progression and preparedness can minimize that impact.

In the Regina region, for the week ending August 22:

  • New Listings increased 2.9% to 143
  • Firm Sales decreased 12.6% to 76
  • Inventory decreased 5.5% to 2,356

For the month of July:

  • Median Sales Price decreased 3.2% to $300,000
  • Days on Market increased 19.0% to 50
  • Percent of Current List Price Received remained flat at 96.6
  • Months Supply of Inventory increased 7.9% to 6.8
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Tim Chicilo
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