SASKATOON, SK, Feb. 7 /CNW/ - Housing market analysts predict
Saskatchewan will set several new records this year. The sold-out crowd
attending Canada Mortgage and Housing Corporation's (CMHC) Saskatchewan
Housing Outlook Conference will hear first-hand today about the anticipated
hike in the province's real estate prices. Speakers and conference
participants will discuss the factors that will impact Saskatchewan's housing
markets over the next year.
Today's conference features experts from CMHC who will highlight
economic, demographic and other elements driving housing markets and their
impact for 2008.
"Fuelled by one of the strongest economies in Canada, Saskatchewan
housing markets can look forward to another exceptional performance this
year," said Richard Corriveau, Regional Economist for CMHC. "Resale
transactions are expected to set a new record in 2008, while new home starts
will be among the highest in 25 years. This rapid pace of activity will
continue to exert upward pressure on prices. Price growth in the province's
new and resale markets should lead the nation over the next few years."
Corriveau cautions that "price escalation will take its toll on demand in
2009, leading to a slight decline in starts and sales."
"Look for another strong year of new housing construction in both Regina
and Saskatoon for 2008," says Paul Caton, Senior Market Analyst for
Saskatchewan "Builders have the largest number of units now under construction
in decades and will be rushing to complete them so that home buyers can
move-in. On the resale side, listings remain at all-time lows and strong
demand persists, suggesting rapidly escalating prices in both 2008 and 2009,"
This year's conference will also feature discussions on the rental market
and condominium conversion trends in Saskatchewan. The event is taking place
at the Radisson Hotel in Saskatoon from 8:30 until 2:30.
As Canada's national housing agency, Canada Mortgage and Housing
Corporation (CMHC) draws on over 60 years of experience to help Canadians
access a variety of quality, environmentally sustainable, and affordable homes
- homes that will continue to create vibrant and healthy communities and
cities across the country.
For further information:
For further information: visit www.cmhc.ca or call 1-800-668-2642; Media
inquiries: Courtney Peers, Marketing Consultant, CMHC, (403) 515-2963, (403)
993-5233 - Cell