May 2015 Prairie Economic Fundamentals

Ally

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#2
Saskatoon's real estate market off to a slow start in 2015

After a record year in 2014, Saskatoon's real estate market is going through a cooling off period to begin 2015.

According to the Royal LePage Price Survey two-storey homes and detached bungalow prices remained relatively flat in the first quarter compared to the same period last year.



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Ally

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#3
CMHC says Regina, Winnipeg are the riskiest housing markets in Canada

The country’s housing market is modestly overvalued, although the Crown corporation that is in charge of housing policy only sees high risk in two of the 12 markets it surveyed.



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#4
Saskatchewan's unemployment rate drops in April

OTTAWA – Saskatchewan continues to have the lowest unemployment rate in Canada. Statistics Canada reported Friday the jobless rate in the province was 4.3 per cent in April, down one-tenth of a percentage from the previous month.

The Saskatchewan government said it’s the nineteenth straight month the province has had the lowest unemployment rate in Canada.

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#5
April 2015 housing starts in Saskatoon

SASKATOON, SASKATCHEWAN--(Marketwired - May 8, 2015) - Housing starts in the Saskatoon Census Metropolitan Area (CMA) were trending at 2,801 units in April compared to 3,063 in March, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of total housing starts.

"The trend in total housing starts declined further in April after local home builders scaled back production of both single-detached and multi-family units. Rising new home inventory and moderating economic fundamentals will prompt a slower pace of housing starts this year," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

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Ally

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#6
Manitoba's unemployment rate rises to 5.5%

OTTAWA — The Canadian economy lost 19,700 net jobs last month as the headline number in the latest labour-market data came in lower than economists’ expectations.

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#7
Saskatchewan sets lowest unemployment rate ever

Saskatchewan has the lowest unemployment rate in Canada at sitting 4 point 3 percent in comparison to the nation rate of 6 point 8.

Immigration, Jobs, Skills and Training Minister Jeremy Harrison says the province is on a high mark.

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Ally

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#8
Winnipeg to see a modest 1.3% increase in home prices in 2015

SELLING prices in Winnipeg's resale-homes market are expected to rise at their slowest pace in more than a decade in 2015, according to the latest forecast from Canada Mortgage and Housing Corp. (CMHC).

"With moderately increasing sales and a growing number of listings providing balance to the market, the average MLS (Multiple Listing Service) price is expected to see the most moderate price increases in over a decade at 1.3 per cent in 2015, and 1.4 per cent in 2016..." the corporation said in its second-quarter Housing Outlook Report released on Monday.

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#9
Expansion project will make K3 world's largest potash mine

REGINA — Mosaic Potash’s recently announced $1.7-billion expansion project at its K3 potash mine at Esterhazy will increase production capacity from three million tons to 21 million tons by 2024, according to Lawrence Berthelet, director of capital expansion for Mosaic Potash.

“(This project) will make K3 the largest, most competitive potash mine in the world,” Berthelet said Tuesday at a Saskatchewan Mining Week presentation in Regina.

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#10
Optimism lags among Manitoba's small business owners

Optimism among small business owners in Manitoba inched upwards in May, but still lagged behind the five-year average.

That's according to the latest monthly survey released by the Canadian Federation of Independent Business on Thursday. Manitoba scored 62 out of 100 on the survey in May, up from 60.2 last month but slightly below the province's average of 63.8.

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Ally

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#11
Market delays Saskatchewan's tallest tower

A soft real estate market and a shortage of tradespeople due to a lot of big projects in Saskatchewan has delayed a downtown Saskatoon megaproject featuring the province's tallest tower.

John Williams, president of North Prairie Developments Ltd., said this week the launch and marketing of the City Centre Tower project that would include a 105-metre residential building has been delayed until at least next February.

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