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Or sign-in if you have an account.An aerial view of downtown Saskatoon, Sask. Saskatchewan, which still has some of the most affordable homes in the country, posted record high prices as bidding wars picked up. Photo by GREG PENDER/STAR PHOENIX FILESHomebuyers are getting “shut out” from buying their first property across much of Saskatchewan as listings continue to lag compared to interest.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorSales in the prairie province were down by 10 per cent in May compared to last year, but market watchers said the drop was due to a lack of supply.Saskatchewan, which still has some of the most affordable homes in the country, posted record high prices as bidding wars picked up.The trend is bucking trends in big cities in other provinces where sales are sluggish with cautious consumers refraining from jumping in during a period of high energy costs.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againPetro Skirchuk, a real estate agent for Realty Executives Saskatoon, said intense competition means that his clients are putting in around six bids on homes before getting accepted. He’s holding almost five times more viewings compared to when he started three years ago.“I’m showing, right now, 50 houses in order for these clients to have (their) offer accepted. Three years ago, it was 10 to 15 houses, so it takes more time, way more time,” he said.In April, sales were muted across many Canadian cities, with forecasts it could stay that way into the summer.So far, the data suggests another mixed bag for housing markets in May, with nearby Calgary reporting sales were down by 16 per cent while residential prices fell three per cent to $570,500. In the Greater Toronto Area, meanwhile, the over supply of listings led to prices falling and more buyers taking advantage of the scales balancing out.In Saskatchewan, the challenge to homeownership isn’t actually the down payment, said Chris Guérette, chief executive of the province’s realtors association.Instead, the hot housing market is leading to slim availability paired with intense competition between buyers vying for the same properties, prolonging the process.“When we say we’re shut out of the market, it’s not because of a price point per se, but it’s because it takes so much time to shop for a home and to find something,” said the head of the licensed real estate professionals body.“It requires a whole other level of patience.”The association’s latest market note flagged “mounting supply pressures” as demand continued to outpace available inventory for May.Once listings go up, they are often snatched up quickly by eager buyers. Home sellers, on the other hand, are hesitant to list if they haven’t yet lined up where they will be moving to.It’s creating a “bottleneck” effect, said Saskatoon realtor Jenna Schmid, who works for Century 21 Fusion.“Most buyers that I’m talking to, because inventory is low … they’re nervous to list their property until they’ve found something to buy,” said Schmid.It’s a seller’s market across the province, which is especially prominent in Saskatoon, and it puts stress on buyers.Buyers are reacting by changing their strategy. Schmid is seeing some house hunters come out stronger during blind bids by offering their maximum budget, just so they don’t lose out on the properties that they’ve fallen in love with.“Sometimes you get those outliers of significantly higher offers than even maybe the next two or three that were the runners up that sometimes are not actually that close in price,” the real estate agent said.Schmid believes this aggressive strategy is what’s driving up prices.May was the third consecutive month of record home prices in the province, which reached over $381,000, according to the provincial association, which monitors benchmark prices. Saskatoon is at the top of the range at over $444,000.A Royal Bank of Canada report forecasts that the number of resold homes is expected to drop this year before picking up again in 2027. Prices are expected to continue to rise over the next two years, though at a slower pace.That forecast is based on persistent tightness in the market for new and resold homes, said RBC assistant chief economist Robert Hogue“Saskatchewan has some of the most affordable markets in Canada, and to me, that’s in large part why this market has kept going (and) has been going against the flow of (price) corrections that we saw in other parts of the country,” Hogue said. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.