Whether you're buying, selling or working in some capacity in property sales, it is important to provide yourself with housing market intelligence. Good industry information will always benefit anyone who's engaged in the property business. If you don't have a lot of time to go through long records and perspective reviews, this article will briefly summarize the present housing market in Saskatchewan, using information from the Canada Mortgage and Housing Organization.
Job development isn't slowing down in Saskatchewan. The growing population and ongoing salary improvements are helping the retail trade overall.
Mortgage rates are expected to remain low. According to CMHC the mortgage rates in Saskatchewan will increase a little bit but will stay low based on traditional standards.
Statistics Canada (Dec. 2013) showed that home prices rose 0.6% in both Regina and Saskatoon. This was due to increased material costs and winter operating costs in Regina, while higher prices in Saskatoon were attributed to increased material and labour costs.
The reseller market is on a stable incline in Saskatchewan because mortgage rates have stayed low, while average salaries have increased. Also, despite the income tax attributes for first-time property owners, the price gains for both new and resell homes are still important and may restrict renters from moving to possession.