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.

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