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Saskatoon real estate market predictions

Providing analysis of what has happened in the Saskatoon real estate market takes a lot of work, but reviewing statistics and crunching numbers normally produces a pretty accurate result.


Predicting the future of a market is much simpler. You review what’s been happening lately, evaluate factors which may impact the market, fill your press release with all kinds of cool intelligent words and provided that you are smart enough to forecast early and waaaaaay into the future, sufficient time will pass and people will forget whatever you’ve said by the time your prediction fails. Simple!


Being correct in a market forecast is much more difficult. I could report a number of failures of my own, but I won’t, because this is my blog. :)


Today, I happened across a copy of the RBC Housing Forecast for 2007. Written sometime over the early months of this year, the report includes some real gems which drive home the point that even the brightest minds that economics can produce sometimes can’t see the forest for the trees.


“The western provinces continue to show signs of price growth topping out with British Columbia, Alberta and Saskatchewan all likely having reached pinnacles in the pace of price appreciation.”


Don’t you wish they could have told us that in January?


With respect to Saskatchewan specifically, the report indicates, “…we anticipate housing affordability to ameliorate in the coming quarters as markets continue to cool” (ameliorate is an impressive word which economists use to say “improve”. :)


Let’s hope that things don’t “continue to cool” at this pace all year long.


What’s most startling about this particular “forecast” is that it was just released last week.


Apparently, it’s hard to get an economist’s attention once his work has begun.I’ve always understood that they can’t see what’s going on in Saskatchewan from Toronto, where I suspect this report was prepared, but come on; the Saskatoon real estate market is so damned hot they should be able to feel it out there.


As for me, I anticipate that current market conditions will persist unabated until housing inventories begin to ameliorate and buyers begin to demonstrate substantial resistance. You can take that to the bank.


I’m always happy to answer your Saskatoon real estate questions. 


Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

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