SASKATOON -- Saskatoon's real estate market was set to see house prices go up over 2020, but with so much affected by COVID-19, broker/owner at Royal LePage Norm Fisher expects uncertainty.
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“I think it all depends on how long we are in self isolation mode and how long this economy is shut down,” Fisher said.
“Supply and demand are key factors in the housing marke, and particularly when it comes to pricing, but so are employment and income.”
Fisher says that once the dust settles, whenever that may be, is when he and many others will be able to see the state of the real estate market.
Although April has been rough so far for the housing market, Fisher says that March actually showed improvement over the previous year.
“There were a whole bunch of people that were caught mid-way through a real-estate transaction,” Fisher said. March actually saw unit sales grow around six per cent.
So far April has shown how the market is slowing, according to Fisher. There were only 34 sales last week, compared to 87 during the same week last year.
As far as day to day operations are going for those in the real estate industry, as a selling broker Fisher says they are working closely with the buying agents to find workarounds to keep viewings as safe as possible.
For example, sellers have been asked to open all closet and room doors and turn on all lights before leaving to help eliminate the need to touch objects during the viewing.
