CANADIAN RENOVATOR COUNCIL
April 2008 - Whistler B.C.

State of the Market
Regina
The resale market has maintained its strength and experienced a record setting year in 2007.  Home prices are up over 30% and demand continues to outpace supply.  As prices continue to rise homeowners continue to look to renovations as an alternative to moving.  Also Renovations are further supported by the increasing number of sellers and buyers who seek to make upgrades prior-to or post-sale.    

Saskatoon
While not quite the meteoric rise of 2007 Saskatoon reached another record for average resale prices in February at $264,269 a 40% jump year over year but in line with the rolling 6 year average of  $25,648.  Demand continues to outpace supply and bidding wars are not uncommon.  Area renovators report that the demand for renovations continues to grow as people are preparing homes for sale, making changes to recently purchased homes, or are simply upgrading their existing homes instead of buying something newer or larger.  

In both of these markets strong new home, commercial and industrial construction sectors have continued to pose problem for renovators in attracting and retaining skilled trades.  Wait times for many building components such as windows and cabinetry are still at all time highs and costs continue to rise due to material and labour costs.  High demand has also increased the number of new renovators entering the industry including a significant number acting in the underground economy.

Activities & Intiatives

RenoMark (Saskatoon)
The Saskatoon & Region Home Builder’s Association has moved forward with its launch of the RenoMark program as featured component of its successful RenoGuide program. There are 20 Renovators in our RenoGuide program that have met the standard for RenoMark and will be promoted as RenoMark contractors on the Association’s websites and promotional material.  RenoMark will be introduced at the annual HomeStyles home show where the program and its members will be featured prominently in promotional material and by including members in an Ask the Experts panel on the main stage.  The Association is developing promotional materials to be distributed to members for their use in promoting their status as RenoMark renovators as well as flyers to promote the program to non-members.  Advertising directed at consumers is being developed to raise awareness of the program and create consumer demand for professional RenoMark renovators. 

Renovator Council (Regina)
            The Regina & Region Home Builders’ Association is forming their first ever Renovator Council to support existing renovator members and attract new members in this fast growing sector.  One of the key issues to be discussed by the new committee will be Regina’s participation in the RenoMark program.

            Regina & Region Home Builders’ Association renovator members continue to be highlighted during the Annual Home & Garden Show held at the end of March each year.

Estimating Course (Saskatoon)
            The Saskatoon & Region Home Builders’ Association is partnering with the University of Saskatchewan to provide a one day estimating course.  The course will be geared towards new home builders, suppliers and renovators. Participants will be provided certificates and builders will be given credit for the estimating component of the Certified Professional Builder Program.  Initial interest has been very high and the course is expected to be offered in late April.

Submitted by Rene Laberge
March 5, 2008