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CMHC releases “2nd Quarter Housing Market Outlook” for Saskatoon

Canada Mortgage and Housing Corporation (CMHC) released its "2nd Quarter Housing Market Outlook" for Saskatoon real estate today. Once again, the publication proves to be a huge waste of taxpayer dollars.  I hate to be so damned sharp but I'm constantly frustrated by the government agency's failure to get it right. You'd think that they could do better given the resources available to them.


In their forecast released late last fall, CMHC predicted, "In 2007, prices will continue to rise although at a slower pace largely due to the forecast increase in supply. A less pronounced increase is forecast for 2007, with prices rising by 7.3% to reach $169,500."  In this newly released 2nd Quarter Forecast, CMHC has adjusted its forecasted increase stating, "Average prices are expected to increase by 21.4% in 2007, bringing the average resale price to $195,000."


It's worth noting that the average selling price of Saskatoon homes has already reached $206,000 year to date, and it topped $220,000 over the month of April. Inventory levels remain desperately low and there is no apparent sign that balance will be found anytime soon.


To their credit, CMHC does make the point that many of the homes currently under construction will be ready for occupancy in the coming months. Given the types of homes that are currently under construction, there is some reason to be hopeful that these “starts” will bring some resale inventory to the market as they near completion.


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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