se 6.7 per cent to

Home prices may drop in 2015Saskatoon’s newest areas have been growing in leaps and bounds. "Buyers are going to be in a better position and have a little bit more clout at the negotiating table."The latest Royal LePage House Price Survey and Market Survey Forecast released Wednesday showed mixed year over year results in the major housing types surveyed discount fake oakleys in Saskatoon.The market saw year overyear price appreciation for standard two storey homes, which increased 5.9 per cent to $401,750, and condominiums increased 4.0 per cent to $275,333. However, prices for detached bungalows decreased 2.2 per cent to $359,000."Demand for two storey homes has been especially strong in Saskatoon, including quite a few newly built properties, which is partially responsible for the significant increase discount oakleys in average prices in that category," Fisher said.Royal LePage is forecasting stable prices for the Saskatoon area as demand for homes eases."After two very strong years where we saw buoyant activity and moderate price appreciation, we expect that Saskatoon’s housing market will revert to historical averages in 2015," the report stated."We have ended oakleys outlet the year with a high level of inventory available, which suggests a competitive environment for sellers in the year ahead."Fisher said there has been elevated levels in inventories for a year now."Through 2014 inventories were higher than they have been for five years. (And) we come into 2015 even higher. Our inventory is about 25 per cent above the five year average, and it is reasonable to expect demand is going to soften a little bit."Fisher expects the falling price of oil and to a lesser extent the chance of an interest rate hike will put pressure on the housing sector."A prolonged depression in oil prices or a spike in interest rates are the biggest threats to the real estate market in the year ahead, as they could hurt the overall economy and labour market or affect the affordability of homes," Fisher said."Oil will come around, it always does. But it feels a little scary when it is where it is at (right now)."Fisher doesn’t see Saskatoon as having a housing bubble ready to burst."The definition of a bubble would be rapid increases (in prices) over a short period of time followed by a burst," he said. "It has been five years since we have really seen rapid increases in our market."Canada Nationally, average home prices showed modest yearover year gains in most markets in the fourth quarter of 2014.During the quarter, the average price of a home in Canada increased between 4.5 per cent and 6.7 per cent year over year. The average buy oakleys outlet price of detached bungalows rose 6.7 per cent to $406,218, while standard two storey homes increased six per cent to $443,379, and standard condominiums saw a 4.5 per cent increase to $257,624. Royal LePage expects home prices to increase moderately in 2015, forecasting a 2.9 per cent national increase for the year ahead."In the immediate term we anticipate that the natural slowing of home price appreciation we called for in the third quarter of 2014 will be delayed in Central Canada and accelerated in the West by recent developments in the energy sector," said Phil Soper, president and chief executive of Royal LePage."Meanwhile in Atlantic Canada, buyers should continue to have the upper hand, with home prices across the region forecast to rise below general inflation."Original source article:Home prices may drop in 2015E mail this ArticleShare this ArticleUber and Edmonton heading for a showdownIt seems Uber and the City of Edmonton may be heading for a showdown. Last week, city councillors voted to request that Uber withdraw from Edmonton until new legislation around ride sharing companies could be passed. If they don comply, city staff were instructed to take them to court.