Saskatchewan to buck national trend of declining resale activity and housing starts: CMHC

The latest release of CMHC’s Housing Market Outlook forecasts declining resale activity and housing starts on a national level, but predicts Saskatchewan will buck the trend showing increases in both categories.

While existing home sales across Canada will experience an 8.5% decline, resale activity in Saskatchewan is expected to “facilitate a record number of transactions in 2008, reaching 13,400 units,” according to the report. Nationally, housing starts will decrease by 6% while Saskatchewan experiences an increase of 17% to 4,600 units, “the highest total in nearly 30 years.”

CMHC believes positive migration trends, expanded production of potash and oil, higher commodity prices and surging government expenditures will continue to drive Saskatchewan’s economy forward in the years ahead.

“The province’s changing economic fortunes are clearly reflected in the 2007 migration figures. After 22 consecutive years of decline, net migration in Saskatchewan rebounded with a record high of 13,583 migrants. Last year’s performance erased all of the losses in the preceding three years.”

Does Saskatchewan have the goods to buck this national trend?

Read CMHC’s Housing Market Outlook here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Vidorra

The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.