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For Week Ending June 27, 2015

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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Tim Chicilo
Phone: 1 (306) 539.0085
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