“We haven’t seen a January like this since 2012,” said SRA economic analyst Chris Gbekorbu in the release. With new listings down 10 per cent from their historical averages, there are fewer houses being put on the market. At the same time, the rising number of sales combined with falling inventory suggests strong demand for what housing is available. This could put upward pressure on prices and help to encourage potential sellers, according to the SRA. “Although it is only one month and another COVID-like event could slow things down again like it did last March and April, this strong start should help us be optimistic for 2021,” said Gbekorbu.
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By now we are reasonably familiar with the COVID-19 effect on the housing market. Sales in most markets, including Saskatoon, were up substantially last year and prices rose as they usually do when demand is high.
People sought their own shelter in a time when adults were working and children were studying at home. If there was ever a time when home ownership looked attractive and smart, it was last year. And possibly this year too.
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