Saskatoon real estate still indicative of a buyer’s market: CMHC

The Canada Mortgage and Housing Corporation’s(CMHC) Fall Housing Market Outlook for the Saskatoon area is calling for a 2.7 percent price reduction in the average resale price of a Saskatoon home in 2009, followed by a more marginal gain of 2.1 percent in 2010.

“With sales on the rise and listings trending down, the sales-to-active listings ratio is trending up. The seasonally adjusted ratio has risen on a monthly basis for six consecutive months. Although the ratio is rising, the market characteristic is still indicative of a buyer’s market. Increasing sales and falling listings will result in a continuing trend toward a balanced market in the coming months.”

A summary of CMHC’s forecasts for 2009 and 2010 follows.

Read the full report for Saskatoon here. Read CMHC’s national housing report 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.

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Norm Fisher
Royal LePage Vidorra

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