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Home sales drop nearly 27 per cent in Regina over past year: CREA
Published Monday, December 17, 2012 10:57AM CST
Last Updated Monday, December 17, 2012 12:05PM CST
While the average selling price of homes in Regina soared to a new height in November, sales plunged nearly 27 per cent compared to a year earlier.
The Canadian Real Estate Association says the average home in the city sold for $309,219 on a non-seasonally adjusted basis. That’s up 13.2 per cent from November 2011.
About 80 fewer homes were sold in Regina last month compared to a year earlier. The association attributes the decline to tighter mortgage lending rules that came into effect earlier this year.
The year-to-date dollar volume of homes sold in Regina increased 11 per cent to $1.1 billion.