The Canadian Real Estate Association says national home sales set another all-time record in January. Sales rose 2% on a month-over-month basis. The Association says sales will be hard-pressed to maintain current activity levels in the busier months to come, without a surge of much-needed new supply; although, that could materialize as current COVID-19 restrictions are increasingly eased and the weather starts to improve.
Senior Economist Shaun Cathcart says, “We’re unlikely to see a rush of listings until the weather and public health situations improve, and we won’t see buyers until those homes come up for sale.” He says, “The best case scenario would be if we see a lot of sellers, who were gun-shy to engage in the market last year, making a move this year.”

Prices rose in the 5-10% range in Regina and Saskatoon.