What You Hear in the Media-Truth or Fiction?

The media is bringing up the possibility that Saskatchewan may be in a recession (the textbook variety) by the end of the year, so I figured I better address this as I know how the media grabs hold of negativity and so many doom and gloomers out there will be worried that the sky will fall in here after all of our positive media for the past couple of years. We have all known for months that the Potash in Saskatchewan hasn’t been as lucrative as years past. This is related to the world wide economic crisis which has effectively passed. Our potash industry will still feel a bump from that and our financials will take a hit, but does this mean the end for Saskatchewan? No.

The media has also said that the Saskatoon real estate market is amongst some of the slowest markets in Canada. I think every real estate agent in Saskatoon would beg to differ.

Remember to take the media with a grain of salt. That is all I will say!

The Saskatoon real estate market is starting to experience a turn from a balanced market to more of a sellers market as our listing numbers dip below 900 (approximately half of what we had on the market in 2008).

The current interest rates are still at 3.84% for a 5 year fixed term so it is still a great time for first time home buyers in Saskatoon to get out there and purchase!

Kari Calder
Residential Real Estate Specialist
Century 21 Conexus Realty Ltd.

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