Tag Archive for “Regina”

The city of Regina reported a surge in multi-family construction with housing starts reaching 277 units in January, which was more than double the 127 starts posted during the same month last year, according to the latest housing start data from the Canada Mortgage and Housing Corporation.

Michael Fabiyi, CMHC's senior market analyst in Saskatchewan, said Regina recorded 736 multi-family housing starts in 2011, and the strong start to the new year has the city poised to surpass that in 2012, according to the Regina Leader-Post.

As a whole, Saskatchewan's housing market continued on its record pace for January, with urban housing starts growing 70.8 percent for the month on a year-over-year basis and the 473 total housing starts marking a record for January. Continue reading »

Regina's housing market set records for average prices and sales volume in 2011, and some experts predict much of the same this year for one of Canada's hottest housing markets.

According to a recent Association of Regina Realtors report, 3,876 residential sales were completed last year, a 9 percent rise from 2010 totals and the second highest number of recorded sales in the region's history. In the city of Regina, transactions increased 7 percent compared to the previous year.

"As the numbers show, 2011 was one of the best, if not the best, years for the Regina real estate market," said Gord Archibald, executive officer of the Association. "Economic, job and household growth, combined with a very tight rental market, all contributed to very high demand for housing and owning a home." Continue reading »

Canada's most expensive housing market seems to be cooling, and Regina and Calgary are seemingly grabbing the reigns from Toronto as the nation's hottest real estate region.

According to a recent BMO Capital Markets report, Regina dominated October's housing statistics, posting a year-over-year sales growth increase of 24.8 percent, while Calgary sales jumped 15.2 percent. Toronto's real estate growth remained strong in October as sales rose 14.3 percent compared to the same month last year.

"Low mortgage rates are offsetting weaker consumer confidence and cooling job growth," said Robert Kavcic, economist at BMO Capital Markets. "Relatively stable sales and price trends are likely in the year ahead." Continue reading »

Canadian cities coast to coast are experiencing rapid increases in home sales, and Regina, Saskatchewan, is no exception.

According to the Association of Regina Realtors, 342 residential sales were reported in October, a new high for the month and a 26 percent increase from October 2010. The record-breaking sales number marks the second consecutive month a new high was reported.

Prices in Regina also spiked, increasing 10 percent from 2010 to $282,313, a record-setting average for October. Continue reading »

Home sales in Regina have moved at a record-setting pace, perhaps boosted by the record low mortgage rates currently being shown by mortgage calculators.

There were more than 370 home sales during the month of September, up 21 percent from last year, according to the Association of Regina Realtors. That broke the previous high for that month and shattered the five- and ten-year averages for the region.

"The record number of sales … during September continues to indicate how really solid our residential market is, as it has been for quite some time," said Gord Archibald, executive officer of the Association of Regina Realtors. "All the fundamentals are in place, with economic, employment and population growth creating new levels of demand for housing." Continue reading »

According to the Association of Regina Realtors, residential sales in the region remained strong during July, despite failing to reach the same volume recorded in the previous months.

Overall, 330 properties were sold during July, which is a 5 percent improvement from 2010 when 314 home transactions took place. The volume is the third-highest sales total for the month of July on record during the last 10 years and is well above the average of 307 home sales during this timespan. In the city, 273 sales were conducted, representing a 1 percent increase from 2010. Continue reading »

According to the most recent reading of the Conference Board of Canada's metropolitan resale index, home prices in Regina are expected to rise by 5 percent during the next 12 months.

The anticipated jump will reflect a similar 5.8 percent increase recorded in the region over the past year.

The average home resale price in Regina during June was $279,620, which is 2.9 percent lower than $287,000 in May. The average is up from $264,390 during June 2010, however. Furthermore, sales increased during the period, climbing 6.7 percent from the previous year, totaling 3,840. The greater sales lead to a decrease in listings, which fell 9 percent to 5,832.

Similar to Regina, Saskatoon's housing sector should experience similar gains, with home prices expected to rise 7 percent in the next 12 months, from an average of $310,484 recorded in June. Sales during the month were also up during the month, totaling 3,936 units, which was up 16 percent from 3,396 in June 2010. Continue reading »

According to the most recent New Housing Price Index, home prices for Canada’s major metropolitan areas remained stagnant in March after experiencing a slight increase in February.

Saint John, Fredericton, Moncton, Toronto, Oshawa, Winnipeg and Regina were among the only regions showing signs of improvement, with the former three metropolitan areas increasing by 0.4 percent and the latter three by 0.3 percent.

Builders relayed that price increases in Saint John, Fredericton and Moncton were the result of better market conditions. Toronto and Oshawa builders expressed a similar sentiment.

Continue reading »

A report from the Conference Board of Canada finds that economic growth in the coming years may be strongest in cities in Saskatchewan and Alberta.

The firm predicts economic growth in Saskatoon and Regina to top 3 percent this year, with strong gains in population boosting demand for Canadian home loans in the area. Similar results are expected to be seen in Calgary and Alberta, where strong growth in the energy sector will fuel the local economies.

“Buoyed by the resources and energy sectors, the economies of Saskatoon, Calgary, Regina and Edmonton will post noticeably stronger growth than the other cities covered in this report,” said Mario Lefebvre, director of the Centre for Municipal Studies.

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Data from the Association of Regina Realtors finds while the average price of Canadian mortgages in the city increased during the month of April, the raw number of sales dropped off.

According to the group’s monthly report, home sales in the region were down 9 percent compared to April 2010, the third consecutive month in which sales have fallen.

At the same time, the average sales price during the month – more than $269,000 – set a new high for the month of April, beating the previous mark by a full 5 percent, as competition between buyers persisted in the area.

Continue reading »