Saturday, September 6, 2008

Saskatoon Spin

I know this is an Alberta blog but this article from the Saskatoon Star Phoenix demands attention.

Saskatoon home prices stabilizing

More homes are up for sale in Saskatoon and their average price is headed for a plateau.
I am not an expert in geology but I'm pretty sure a plateau is flat and not a decline of more than $30,000.
"We're more on par with 2003, 2004, 2005 - so we're indicating a return to a more normal, stable environment," he said, adding the market is expected to stay in a similar state for some time.
This August sales were at a 10 year low. And clearly not on par with 2003, 2004, 2005.

August Sales
2003 240
2004 296
2005 319
2006 349
2007 397
2008 224

This comes shortly after a desperate article (4 pages!)tackling the Merrill Report stating that Saskatoon is 50% overvalued.

Star Phoenix is one of CanWest minions along with the Edmonton Journal and Calgary Herald. See previous post on Saskatoon here.

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