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Saskatoon housing starts & MLS sales to move in opposite directions: CMHC


According to Canada Mortgage and Housing Corporation(CMHC) Saskatoon housing starts and MLS® resale activity will move in opposite directions, this year and next.


In their fall Housing Market Outlook for the Saskatoon area, CMHC is forecasting that Saskatoon housing starts will finish 2010 at 2,125 units, up from 1,936 in 2009, before falling to just 1,700 in 2011. Conversely, resale MLS® activity is expected to fall to 3,500 units this year, down from 3,822 in 2009, and then increase to 3,600 units in 2011.


On the heels of a 7.9% decline in 2009, CMHC economists expect the New Housing Price Index to increase by 2.7% this year before it moves 2.9% higher in 2011. Resale prices, after moving to $291,000 this year from $278,895 in 2009 will moderate and advance less than two percent to $296,000 next year.


Nationally, CMHC forecasts housing starts to rise from 149,081 in 2009 to 186,200 by the close of 2010 when they will begin to drop and fall to 174,800 in 2011. MLS® resale activity is forecast to rise from 320,362 in 2009 to 336,800 this year before increasing further to 339,800 in 2011.


The CMHC Housing Market Outlook for Saskatoon is here. The CMHC Housing Market Outlook for Canada is here.


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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.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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