The Saskatoon Region Association of REALTORS® does not feel, unlike some economists in this country, that there will be a spike in sales of homes this spring.
The economists are making that prediction in light of the impending change to regulations around purchasing a home. When the announcement was first made earlier this week, 600 Action News asked the Association's Executive Officer about a possible run-up in sales and Harry Janzen disagreed.
Janzen says he stands by that statement because of several factors. He points out that while it may not have been regulated by the government, many of the banks were already employing practices that weeded out those at higher risk for not being able to sustain a mortgage.
Janzen also says the Saskatoon market has always been something of an anomaly, not usually experiencing huge increases or declines in prices. He feels there's a pretty good balance for product availability, interest rates are good, and people are going to step up to the plate in 2010 and do some buying.