The past teaches meaningful lessons to the present and future. An interesting comparison of the 2015 housing market to the 1981 market was recently made in a Globe and Mail article. Homes may have been less expensive in 1981, but interest rates hung above 20 percent at one point. With today's prevailing rates for the medium-priced home at 10 percent down, monthly mortgage payments are about $1,000 lower, showing that low mortgage rates are more impactful on affordability than high sales price.
In the Regina region, for the week ending June 27:
- New Listings decreased 3.8% to 177
- Firm Sales remained flat at 91
- Inventory decreased 2.8% to 2,469
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 22.9% to 5.4
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