The Association of Regina Realtors is baffled to see the Queen City ranked as over valued by the Canada Mortgage and Housing Corporation
“Vancouver’s not on the list, but Regina is. I just find it a bit odd,” said Gord Archibald, CEO of the association.
He suggests the CMHC’s “red flag” about over inflated house prices in Regina is actually using outdated numbers.
“It’s actually a pretty good market right now for buyers to come in,” he said. “It’s actually the best bargaining position that buyers have been in for the last seven or eight years.”
He points out there are more listings this fall than there has been for years, and prices have actually come down a little.
“I don’t think there is any reason for alarm whatsoever.”
He does admit that the local economy has slowed, but he says they are still seeing growth in jobs and in population.
Four cities are red lined by the CMHC: Regina, Saskatoon, Winnipeg and Toronto for signs if instability in the housing market.