Saskatchewan Canada covid-19 Coronavirus CMHC Saskatchewan Canada

Saskatchewan home builders react to CMHC’s ‘pessimistic’ outlook report

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globalnews.ca

Home builders in Regina and Saskatoon are staying optimistic about home sales, despite Canada Mortgage and Housing Corporation stating otherwise.

In its 2020 Housing Market Outlook, CMHC predicted housing prices to fall between 19 and 29 per cent across the country, percentages based on projections pre-coronavirus pandemic.

The outlook forecasts Saskatchewan markets “are more heavily weighted to the downside than for other provinces.” “The harsh forecast released by CMHC really only reflects a “best guess” of what might happen in the housing market over the next year,” said Stu Niebergall, Regina & Region Home Builders’ Association CEO. “Their predictions come off a bit like someone running into a room screaming ‘fire!’ when things are hot,

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