The big bounce in resale activity that took place during the spring and summer of 2009 in Saskatchewan showed signs of letting up late in the year, just as more properties were listed for sale. This put a damper on price increases recently, which allowed affordability to improve further in the province. In the fourth quarter of 2009, RBC measures fell between 0.1 and 1.1 percentage points (for condominiums and townhouses, respectively), in most cases extending the sharp declining trends since about the middle of 2008. Nonetheless, the cost of home-ownership remains historically high in Saskatchewan, with the unprecedented surge from late-2006 to early-2008 only partly reversed. This might not be cause for concern, however, considering that housing prices that prevailed prior to the boom were likely depressed by unfavourable migration flows, which have since turned around. Housing affordability in Saskatoon also improved, though far more modestly when compared to the whole province.
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