CMHC Releases Housing Market Assessment
The Canadian Mortgage and Housing Corporation has released its 4th Quarter Housing Market Assessment for Canada, and it shows that there is still a high degree of vulnerability in the Canadian Housing Market, but home prices are moving closer to levels supported by housing market fundamentals.
In Saskatchewan, the CMHC says the biggest issue remains a problem of over-building, which leaves Saskatchewan with a moderate degree of vulnerability in the Overall Assessment.
The CMHC says nothing has significantly changed in Saskatchewan in the past 3 months, with the only area of concern remaining Overbuilding.
Saskatoon – Moderate Degree of Vulnerability
The CMHC says fundamentals in Saskatoon remain mixed with weaker economic conditions resulting in a contraction in real disposable income, while growth in the young adult population has remained positive and relatively strong. It says Buyers Market conditions continue in Saskatoon with a downward trend in several house price measures.
Regina- Moderate Degree of Vulnerability
The CMHC says there continues to be high evidence of over-building in Regina as the inventory of completed and unsold units increased further during the second quarter of 2018. It says observed house prices remain largely in line with those estimated from fundamentals. But Buyers Market conditions continue with downward pressure on several house price measures.
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