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For Week Ending July 11, 2015

 

For Week Ending July 11, 2015

Earlier this summer, economists synthesized rising interest rates in conjunction with possible jumps in U.S. rates. However, in a rather unexpected move, the Bank of Canada dropped interest rates to 0.5 percent. As it stands, this is the second interest rate cut of the year and it comes with more than a few mixed reviews. Even though lower rates can entice previously ineligible buyers to the scene, it could provoke an undesirable off-kilter market in the future if lending is not made responsibly. Seeing what the second half of summer reveals will help dispel or cook up rumours that a change is gonna come.

In the Regina region, for the week ending July 11:

  • New Listings decreased 9.1% to 169
  • Firm Sales decreased 17.2% to 82
  • Inventory decreased 3.7% to 2,415

For the month of June:

  • Median Sales Price increased 3.2% to $303,500
  • Days on Market remained flat at 40
  • Percent of Current List Price Received decreased 0.4% to 96.5%
  • Months Supply of Inventory decreased 20.0% to 5.6

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Tim Chicilo
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