Paul Martin's Business Update - May 26th, 2014

Paul Martin's Business Update - May 26th, 2014

The volume of residential inventory being added or changing hands is levelling out.

This has been an interesting segment of the marketplace to track in the last ten years as it has sparked a whirlwind of activity and plenty of coffee row talk. For years Saskatchewan trudged along in an environment where house prices were stagnant and reflected an under-performing economy.

But as things began to improve a decade ago, housing prices and volumes followed. New subdivisions sprung up in cities while small towns saw houses that had been standing vacant scooped up. All this demand encouraged builders to break ground on new units and the resale market flourished.

Fast forward to today and, at long last, the marketplace has caught up to demand. A new report from CMHC shows starts of new homes will remain relatively stable or slightly lower in the next couple years. Similarly resale activity is going to hover in a relatively narrow range. But even with all the growth, average home prices here are below the Prairie average and $100,000 below the Alberta average.

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