Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 14, 2012 10:30 ET

CMHC's 2012 Saskatchewan Housing Outlook Conference

SASKATOON, SASKATCHEWAN--(Marketwire - Feb. 14, 2012) - Saskatchewan's housing market was discussed today at the Canada Mortgage and Housing Corporation (CMHC) annual Saskatchewan Housing Outlook Conference. The event, held at the Radisson Hotel, attracted over 200 housing industry representatives to hear CMHC experts present on economic, demographic, and other factors impacting Saskatchewan's major housing markets.

Saskatchewan's expanding population continues to underpin housing demand. Single-detached starts totalled 4,152 units in 2011, only the third time in 28 years that provincial builders surpassed the 4,000 production mark. "With the elevated pace of production, inventory levels appear to be increasing which will slightly moderate construction moving forward," noted Lai Sing Louie, Regional Economist for the Prairie and Territories Region. Nonetheless, single-detached starts will remain elevated at around 4,000 units annually in both 2012 and 2013. Multi-family starts in Saskatchewan will also remain elevated, averaging 3,200 units per year through 2013.

Existing home sales advanced by over ten per cent to 11,991 units in 2011. "Home buyers across Saskatchewan will continue to benefit from low mortgage rates, a wide selection of listings, and a slower pace of resale price increases," said Michael Fabiyi, CMHC Senior Market Analyst for Saskatchewan. Over the next two years, resale transactions will post moderate gains, supported by improved labour market conditions, rising wages, and elevated migration patterns.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

Contact Information

  • Charles Daniel Mainville
    CMHC Communications
    (403) 703-5167