While the GTA grapples with its own real estate challenges, a recent situation in Saskatoon offers a stark warning about the impact of low housing inventory. A new report highlights a concerning imbalance: more realtors than available homes. At the end of November, Saskatoon had 591 properties for sale, while 842 realtors were actively working in the city.
This situation, deemed “not normal” by the Saskatchewan Realtors Association CEO Chris Guérette, underscores the dire need for increased housing supply. Premier Scott Moe noted a 71% year-over-year increase in housing starts in Saskatchewan, but acknowledges that building takes time. Meanwhile, rising rental costs, up 3.9% in December, are adding pressure. Could these inventory challenges foreshadow potential issues in the GTA? Read the full story on ctvnews.ca to understand the dynamics at play and what lessons Toronto can learn.
Read the original story here: https://www.ctvnews.ca/saskatoon/article/there-are-more-realtors-working-in-saskatoon-than-homes-available-on-the-market/
