Regina Real Estate Market Continues Its Slow Recovery, CREA says

While Vancouver and Toronto's real estate market remain hot, Regina's resale housing market was cool during the month of July.

According to the Canadian Real Estate Association, up until this

point of the year, Regina's housing market only saw a 1.5 per cent increase in home prices as well as a 1.5 per cent increase in sales during the same time period.

In the past three years, Regina's real estate market had seen prices of homes decline. However, it has started to improve this year. During July 2016, prices increased by 0.1 per cent although the number of sales were down.

Rob Reynar, manager of Operations for the Association of Regina Realtors, stated that growing stability has been seen in the market place for some time. He also said that according to the home price index (HPI) over the past year, Regina's real estate market has grown by approximately 3 per cent.

Prices of homes in Regina began declining during spring in 2012 until fall of 2015. Rob Reynar said that most of the losses have been recovered since November 2015. Housing inventory has levelled off and lower inventory is pushing demand, particularly in the $300,000 to $500,000 range.

Reference:

Regina Leader Post

http://leaderpost.com/…/regina-real-estate-market-continues…