Hundreds of realty professionals gathered at Saskatoon’s Prairieland Park on Tuesday for the fifth annual State of Realty event, hosted by the Saskatchewan Realtors Association. “Our sector is a very fast-moving sector, changes every day, every year. And so, it’s a really nice mix of professional development, communication skills, a little bit of politics, sometimes technological tools that are coming or currently accessible,” said Chris Guerette, CEO of the Saskatchewan Realtors Association. “It’s a really nice mix for any sort of professional and real estate to come make themselves better and take care of their business,” Chris Guerette, CEO of the Saskatchewan Realtors Association said. The event featured keynote speaker Todd Hirsch, who spoke to the current trends popping up in the housing market both in Saskatchewan and across Canada. “Where housing prices are in Saskatchewan, even though they’ve been increasing, it’s still a far more affordable market than in places like Toronto and Vancouver, where if you’re the average young person, you’re probably never going to be able to come up with the down payment. Saskatchewan is not that situation,” Hirsch said. Hirsch explained that while the housing market as a whole is becoming more expensive along with the cost of living, the trends coming out of Saskatchewan have offered a sense of confidence for those investing in a house. “The best things I think Saskatchewan’s had going for it is the increases we’ve seen in price have been steady and gradual. You kind of want the slow, gradual increases, about five per cent in the last year. That’s prevented the worry of a price collapse.” The industry, however, is not without its challenges. Tariffs imposed by the United States have had a noticeable impact on housing costs across Canada. When homes are built, there are three main components that go into the price: labour, land and supply. It’s the cost of supplies that have been heavily impacted by the ongoing trade war. “That large chunk of all the supplies it takes to take care of building that home will likely have some kind of impact from tariffs. And what that means at the end of the day is that essentially, it’s an upward pressure on prices, and it’s going to erode that affordability a little bit,” Guerette said. Despite rising costs, the demand for housing among buyers has remained steady in Saskatchewan. Hirsch added the housing market offers an important insight into the economy as a whole. While necessities like groceries and gas are purchased regardless of the economy, houses require a different financial perspective. “Houses are different. If you’re buying a house, you obviously have more confidence in the economy and your job and your financial situation. So when we are seeing housing starts, and we are seeing home purchases and increases in price, that’s a good reflection of a generally strong mood among consumers, a strong vote of confidence in their economy.”
