P.A. housing market takes July hit
The downturn in the Prince Albert housing market will come as no surprise to anyone, but the latest sales figures appear additionally hard-hitting. The Saskatoon Region Association of Realtors (SRAR) has labelled the numbers “unusual”, although an official suggested they did not necessarily mean the start of an even bigger slump.
According to the SRAR monthly report only 25 sales happened in Prince Albert in July, which is almost 50 per cent worse than July 2017 when 49 properties changed hands. The particularly low figures are below the five-year average and are the worst for a July in the last nine years according to data supplied by SRAR.
“[July sales] saw an unusual decline,” CEO Jason Yochim said in a media release. “Although the numbers represent a significant decline compared to last year, this does not necessarily indicate an alarming trend.”
Yochim said various factors could have contributed to the decline which “may be coincidence.”