Housing inventory in this province is at an all-time low according to the Association of Realtors, but demand is high. That translates into a seller’s market.

The association held its AGM at the Holiday Inn in St. John’s last week.

Executive director Bill Stirling points out that inventory last month in the province was at its lowest on record. He says we have to do something to increase supply. He says a number of things have to align for that to materialize, including reducing the cost of construction.

He says there are also challenges with finding enough skilled labour to build houses, supply chains are difficult, cheaper financing costs would help, and with the situation in the Middle East, virtually everything costs more these days.