The Association of Regina Realtors is gearing up to celebrate a milestone in 2012. The association turns 100.
There's no doubt the real estate landscape has changes dramatically in the last century, leading to record sales in the Regina area.
Shawn Fay, with Realty Executives Regina, says the area isn't showing signs of slowing down. "Saskatchewan is the place to be and maybe Regina more so than anywhere."
2011 was a significant year for Regina's real estate market. Residential sales rose, and the annual total dollar volume of sales in the city checked in at more than $1,000,000,000.
"There are lots of jobs, lots of demand for housing, the rental market as we know, has really tightened, so I think that's all really helping out," says Fay.
2007 is regarded as a record year in Regina real estate. It was a period of major population growth and supply shortage, which spurred the market still in play today.
Gord Archibald is the executive officer with the Association of Regina Realtors.He says despite the rising cost of owning a home, there are still plenty of options for first time buyers, especially those looking to get out of the increasingly competitive renter's market.
"Mortgage rates are at or near historical lows, so that makes a big difference in monthly outlay for a new homebuyer. There's the homebuyer's plan where one can borrow from their RSP if they choose to do that and there's some government assistance programs for first time buyers around right now," says Archibald.
With many financial pundits anticipating continued growth from Saskatchewan in 2012, the real estate market is also expected to follow suit.
Source: http://regina.ctv.ca/servlet/an/local/CTVNews/20120105/sas-reginamarket-120105/20120105/?hub=Regina
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