Toronto, Ontario (PRWEB) April 03, 2013
Official data from Saskatoon Region Association of Realtors indicated a 12 percent decline in regional home sales. Marcus Arkan, CTO of leading mortgage firm Syndicate Mortgages, has announced that the decline is temporarily caused by the extreme winter season. He further stated that the sales are likely to go up as the temperature starts to rise.
Total sales, according to SRAR’s data, in February were down 12 percent while the sale prices saw a 6 percent increase. According to Mr. Arkan, “Saskatoon is one of Canada’s coldest regions and it is normal for sales activities to remain low during this time of the year. However, the economy of the region is thriving and we can definitely expect a change of pace with the change of whether.”
Sunday, March 24th, Global Saskatoon also shared an article that pointed out the weather as the major reason behind the declining sales in the region. According to the article, while sales were down in the previous month, sales in some areas have increased up to 20 percent from last year.
Mr. Arkan further added that the reason behind his optimistic forecast regarding Saskatoon is his study of the overall economy of the region. He said that Saskatoon is doing exceptionally well both in terms of job growth and economic development. Moreover, he added that clean and clear environment of the region is also one of the major attraction factors for foreign investors and Canadians living abroad.
According to Statistics Canada, Saskatoon has seen a population growth rate of 40.4 per thousand. This is the highest for any city in more than 15 years. Mr. Arkan explained some of the reasons why he thinks that the growth will continue throughout the decade. “The city has unlimited potential for growth and it can cater to the large number of people moving here. Unlike Vancouver, a city surrounded by mountains, Saskatoon is likely to grow without any bounds.”
Mr. Arkan also added that the sales are likely to increase with the increase in population but the prices will remain affordable for most people. He encouraged more and more people to consider buying a home in Saskatoon as mortgage rates are still low throughout the country.
For more information on Canada mortgage rates and housing market, visit the website http://www.syndicatemortgages.com
About Syndicate Mortgages Inc.
Syndicate Mortgages Inc. is one of the leading Canadian mortgage brokerage firms. Founded in 2008 in Ontario, the company specializes in residential, commercial and construction financing across Canada. With years of experience and expertise in the mortgage industry, and access to an array of lending institutions across Canada, Syndicate is known for finding the best mortgage rates for their customers. Syndicate has branch locations across Canada. For contact, please use the following details.
Syndicate Mortgages Inc.
Toll Free: (888) 646-1062