JOSH BUCHANAN

August 17, 2017

Back at the beginning of the year, I briefly reviewed Regina in post #77. I thought it would be a good time to reanalyze Regina and compare it to Saskatoon. Here are the current statistics being reported as of the end of July for each city:

After finishing 2016 with a well-balanced sales-to-listings ratio of 0.53, Regina seems to have taken turn for the worse in 2017. The month of July posted a decent sales-to-listings ratio but as for the year-to-date, it is down to 0.44 which is a fall of 9 points compared to where it finished last year and down 6 points from where it was at the end of last July.

The months-of-inventory ratio and rate-of-sale ratio for Regina are both quite weak when looking at the annual statistics and the statistics for July alone.

On top of these statistics, Regina’s unemployment rate as of July was 5.4% which is well below Saskatoon’s 8.1%.

Conclusion:

Without getting too deep into the numbers, Regina, by all measures currently has a weak market that is considered oversupplied. This is a step in the wrong direction compared to last year where the city was showing balanced numbers. While Regina may be weak, it is still noticeably better off than Saskatoon. Saskatoon is showing stronger signs of imbalance across all three ratios.

—

Please don’t forget that the comment section is active below if you want to leave questions or feedback. You may also subscribe to the blog by clicking on the icon on the top right corner then selecting the “follow” button. Share buttons can also be found at the bottom of each blog post.

Data sources:

Government of Saskatchewan Unemployment Report: http://www.stats.gov.sk.ca/stats/labour2017/lfsJuly2017.pdf

Association of Regina Realtor’s report:http://www.reginarealtors.com/WEB/Documents/ARR/RG%20MARKET%20RELEASE/aug2017-market-release-yqr.pdf

Saskatoon Region Association of Realtors report: http://www.saskatoonrealtors.ca/web/SRAR/SRAR/Market_News_and_updates/News_Release/2017/08_-_August_2017_SRAR_News_Release.aspx

The views represented are solely those of Josh Buchanan and are independent from any professional organization.