James Wruth Regina March 2023 Real Estate Market Report

Posted on April 13, 2023 by James Wruth | RE/MAX Regina

Posted in Best Rated Regina Realtor, best real estate agent Regina, SK, Best Regina Real Estate Agent, Best Regina realtor, James Wruth, market Report, Regina, Trusted Regina

James Wruth Regina March 2023 Real Estate Market Report

Greetings Friends,

I am pleased to be able to share my 2023 March Regina Real Estate Market Report!

March 2023 Monthly Housing Market Trends Report

How Does This Compare to Saskatchewan Data?

There were 1,213 sales recorded across the province in March, a 20 percent year-over-year decline. Despite year-over-year sales declines, this level of sales is still stronger than pre-pandemic levels and nearly 10 percent above long-term, 10-year trends.

New listings decreased by over 17 percent on a year-over-year basis and remain significantly below the 10-year average. In the first quarter of 2023, properties priced below $400,000 contributed to the most significant decline in new listings. A reduction in the number of new listings relative to sales resulted in further year-over-year declines in inventory levels, which remain over 30 percent below long-term averages.

- Source https://saskatchewanrealtorsassociation.ca/market-watch-march-2023/

I believe in personalized one-on-one service to fully understand you, and your real estate goals and I commit to being 100% accountable to you. I want to bring value before, during and after the sale of your home! If you are looking for a real estate agent who works tirelessly on your behalf and always offers honest and candid advice, please contact me today!

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James Wruth Regina February 2023 Housing Market Trends Report

Posted on February 18, 2023 by James Wruth | RE/MAX Regina

Posted in Best Rated Regina Realtor, Best Regina Real Estate Agent, James Wruth, market Report, Real estate agent regina, Trusted Regina Realtor

James Wruth Regina February 2023 Housing Market Trends Report

Greetings Friends,

I am pleased to be able to share my 2023 February Regina Real Estate Market Report!

February 2023 Monthly Housing Market Trends Report

How Does This Compare to National Data?

National Statistics

New home prices in Canada dropped by 0.2 per cent month over month in January, according to Statistics Canada data released Wednesday.

In its latest New Housing Index report, StatCan said higher mortgage rates continued to put downward pressure on new house prices.

“Borrowing costs rose again in January, as the Bank of Canada increased the policy interest rate an additional 25 basis points, bringing it to 4.5%,” StatCan said.

StatCan noted the Canada Mortgage and Housing Corporation (CMHC) reported that 18.7 per cent more single-family homes had been completed but not sold in December 2022 compared with the same month in 2021.

In addition, the price of softwood lumber went down again in January, declining a total of 61.2 per cent since the high in March 2022, reducing builders’ construction costs.

These changes were felt by builders who reported deteriorating market conditions and decreased construction costs as the reasons for the decline in new home prices, StatCan said.

It also reported that Winnipeg (-1.3 per cent) recorded the largest decrease in new home prices last month, followed by Victoria (-1.1 per cent) and Kitchener-Cambridge-Waterloo, Ont. (-0.9 per cent).

In January, the Canadian Real Estate Association (CREA) predicted house prices could fall almost six per cent this year from 2022, which ended in a sluggish market as sellers and buyers sat on the sidelines.

The association’s forecast amounts to 495,858 properties changing hands in 2023 and is based on sales “more or less” stabilizing since the summer, “suggesting the downward adjustment to sales activity from rising interest rates and high uncertainty may be in the rear-view mirror.”

The same factors are also expected to put a damper on the average home price, which CREA said will reach $662,103 in 2023.

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January 2023 Regina Real Estate Market Report

Posted on January 23, 2023 by James Wruth | RE/MAX Regina

Posted in Best Rated Regina Realtor, best real estate agent Regina, SK, Best Regina Real Estate Agent, James Wruth, market Report, Real Estate Trends Regina, Remax Crown Real Estate Agent

January 2023 Regina Real Estate Market Report

Greetings Friends,

I am pleased to be able to share my 2023 January Regina Real Estate Market Report!

JANUARY 2023 Monthly Housing Market Trends Report

How Does This Compare to National Data?

National Statistics

Canada’s housing market ended off a turbulent year with prices at a 22-month low. Canada’s average home price has once again decreased on a monthly basis to $626,318 for December 2022. This is the lowest it’s been since January 2021. That’s a decrease of 1% from last month and it’s 12% lower compared to last year’s average sold price in December 2021, as Canada’s housing market continues to feel the effect of rate hikes and slowing demand. Nationally, sales during the month of December 2022 are down 39% year-over-year to 21,840 transactions.

Canada’s MLS Benchmark Price, which measures the price of a “typical” home in Canada, was $717,000 in December 2022. That’s a 7.5% drop compared to last year. The benchmark price has fallen on a monthly basis since March 2022, which was when housing prices in Canada peaked. Since then, multiple Bank of Canada rate hikes have caused Canadian mortgage rates and prime rates to rise, while Canada’s inflation rate remains elevated.

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December 2022 Regina Real Estate Market Stats From James Wruth

Posted on November 9, 2022 by James Wruth | RE/MAX Regina

Posted in Best Rated Regina Realtor, best real estate agent Regina, SK, Best Regina realtor, December Regina Market Trends Real estate, Expert Realtor Regina, James Wruth, market Report, Regina Real Estate Agent, Regina Realtors Remax, Remax Crown Real Estate Agent, Remax Crown Real Estate Regina, Remax Realtor Regina

December 2022 Regina Real Estate Market Stats From James Wruth

Greetings Friends,

I am pleased to be able to share my 2022 December Regina Real Estate Market Report!

DECEMBER 2022 Monthly Housing Market Trends Report

How Does This Compare to National Data?

Average Canadian house price fell 12% last year, new CREA numbers show

The average price of a Canadian home that sold in December was $626,318, a decline of more than 12 per cent from where it was the same month a year ago.

The Canadian Real Estate Association, which represents more than 150,000 realtors across the country, released new numbers about the country's housing market on Monday, showing that the number of homes sold and the prices they fetched were both sharply lower in December than they were the same month a year earlier.

Sales fell by more than 39 per cent from December 2021's level. And prices were also well down from an average of $713,500 at the end of 2021, and a peak of $816,720 reached in February 2022, before the Bank of Canada started aggressively raising lending rates.

The realtor group says the average selling price can be misleading since it is easily skewed by sales of expensive homes in places like Toronto and Vancouver. So it tabulates a different number — known as the House Price Index — that adjusts for the volume and type of housing sold.

The HPI was down by 13 per cent from its peak last year, with Ontario and British Columbia seeing the biggest declines, while just about everywhere else saw either small declines or even slight increases in some cases.

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August 2022 Regina Monthly Housing Market Trends Report

Posted on September 6, 2022 by James Wruth | RE/MAX Regina

Posted in August 2022 Monthly Housing Market Trends Report, Best Rated Regina Realtor, best real estate agent Regina, SK, Best Regina Real Estate Agent, Best Regina realtor, James Wruth, market Report, Regina real estate, Regina Real Estate Agent, Regina real estate trends, Regina Realtors Remax, Regina SK Realtor, Remax Crown Real Estate Agent, Remax Crown Real Estate Regina, Remax Realtor Regina

August 2022 Regina Monthly Housing Market Trends Report

Greetings Friends,

I am pleased to be able to share my 2022 August Regina Real Estate Market Report!

August 2022 Monthly Housing Market Trends Report

September 7, 2022

How Does This Compare to National Data?

As a consequence of the Bank of Canada’s rate hikes, the Canadian housing market is on the verge of a cliff, as rapidly rising mortgage rates threaten the stability of Canadian home values. The average home price in Canada was $629,971 in July 2022, a decrease of 5% from the previous year and 5% from the previous month. This is a stunning turnaround from the extraordinary price rises seen earlier in the year when a new record was reached in February of 2022. Canada’s average home price has decreased for the sixth consecutive month. Compared to the peak of $816,720 in February 2022, the average sales price in Canada has decreased by 23%. In the previous five months, the average Canadian home price has plummeted by 23%, or around $190,000. However, the MLS Benchmark Price continues to increase annually. In July 2022, the national average home price in Canada increased by 7% year-over-year to $782,300 but fell by 3% month-over-month.

Regarding annual home price growth, the Prairie Provinces lagged behind the rest of the country. In July 2022, the average home price in Alberta was $437,028, a 3% year-over-year increase. Calgary’s housing prices have climbed by just 1% yearly, whereas Edmonton’s have increased by 2%. In July 2022, the benchmark price in Saskatchewan climbed by 5% annually, reaching $335,000. Meanwhile, the yearly average home price in Manitoba grew 5.5% to $353,309. That is a substantial monthly decline of 6% for Manitoba home values.

British Columbia is the most expensive province in Canada to buy a home. In July 2022, the average price of a home in British Columbia was $915,841, an increase of 3% year-over-year but a decrease of 3% month-over-month. According to the British Columbia Real Estate Association (BCREA), the average home price in British Columbia in July 2022 was $923,449, a 4% year-over-year rise. This is still more than the average Ontario home price of $831,473. The average property price in Powell River has climbed by 35% annually, whereas the average home price on Vancouver Island has increased by 17% annually.

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July 2022 Regina Real Estate Analysis

Posted on August 1, 2022 by James Wruth | RE/MAX Regina

Posted in Best Regina Real Estate Agent, Best Regina realtor, July real estate report Regina, market Report, Realtor Regina, Tr, Trusted Regina re, Trusted Regina Realtor

Greetings Friends,

I am pleased to be able to share my 2022 July Regina Real Estate Market Report!

If you are looking for a real estate agent who works tirelessly on your behalf and always offers honest and candid advice, please contact me today!

How Does This Compare to National Data?

July 2022 Monthly Housing Market Trends Report

HIGHLIGHTS

National home sales fell by 5.6% on a month-over-month basis in June.
Actual (not seasonally adjusted) monthly activity came in 23.9% below the June record set in 2021.
The number of newly listed properties was up 4.1% month-over-month.
The MLS® Home Price Index (HPI) edged down 1.9% month-over-month but was still up 14.9% year-over-year. The actual (not seasonally adjusted) national average sale price posted a 1.8% year-over-year decline in June.

Home sales recorded over Canadian MLS® Systems fell by 5.6% between May and June 2022. Although

larger declines were recorded in April and May, monthly activity has dropped to slightly below average levels for the month of June. (Chart A)

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February 2022 Regina Real Estate Market Analysis- James Wruth

Posted on March 4, 2022 by James Wruth | RE/MAX Regina

Posted in market Report, Regina Real Estate

February 2022 Regina Real Estate Market Analysis- James Wruth

Greetings friends,

I am pleased to be able to share my 2022 February Regina Real Estate Market Report!

I believe in personalized one-on-one service to fully understand you, your real estate goals and to be 100% accountable to you. I also want to bring value before, during and after the sale of your home!

If you are looking for a real estate agent who works tirelessly on your behalf and always offers honest and candid advice, please contact me today!

How Does This Compare to National Data?

February 2022 Monthly Housing Market Trends Report

MARCH 3, 2022

The national inventory of active listings declined by 24.5% over last year, while the total inventory of unsold homes, including pending listings, declined by 15.3%. The inventory of active listings was down 62.6% compared to 2020 before the onset of the COVID-19 pandemic.
Newly listed homes were down 0.5% nationally compared to a year ago, and down 0.7% for large metros over the past year. While annual new listings growth was on the verge of being positive, sellers still listed at rates 13.8% lower than typical 2017 to 2020 levels prior to the pandemic.
The February national median listing price for active listings was $392,000, up 12.9% compared to last year and up 26.6% compared to February 2020. In large metros, median listing prices grew by 7.8% compared to last year, on average.
Nationally, the typical home spent 47 days on the market in February, down 17 days from the same time last year and down 32 days from February 2020.

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The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).

The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.

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