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Home listings in Regina hit 10-year high for May
Ken Gousseau, CTV Regina
Published Friday, June 13, 2014 5:05PM CST
Last Updated Friday, June 13, 2014 7:24PM CST
The Association of Regina Realtors says the number of active listings in the city hit a 10-year high for the month of May.
The latest statistics show there were 1,342 active listings at the end of May, an increase of 40 per cent from a year earlier.
The number of new listings in the city rose one per cent from the previous month to 646.
On a year-over-year basis, home sales for the month were flat at 343. The average listing was on the market for 34 days, up from 32 days in May 2013.
“There’s more new listings coming on the market than there are sales,” association executive director Gord Archibald said Friday.
“One thing it has done is it’s kept prices in check.”
The composite Home Price Index for Regina fell 0.7 per cent from the same month a year earlier to $305,000.
Archibald predicts home prices in the city will remain level, but he says values could dip slightly in the months ahead.