Resale housing activity in Regina posted a third consecutive year-over-year increase in the fourth quarter of 2011.

Residential property sales numbered 878 units in the fourth quarter of 2011, rising 22 per cent from the same period last year. This was the highest fourth quarter level on record.

Single detached home sales increased by 28 per cent compared to a year earlier in the fourth quarter of 2011.

The number of months of inventory for single detached homes was down from levels at the end of the fourth quarter of 2010, and as a result homebuyers spent less time shopping than they had a year earlier.

The median sale price for single detached home sales rose nine per cent year-over-year to the second highest level on record, reaching $286,500 in the fourth quarter of 2011.