What the data does show is a market with active demand rather than distress: 446 homes sold in Saskatoon in August, running 6.6 percent above the ten-year average, which is not the sales pattern a market flooded with forced listings usually produces.
CMHC's minimum credit score of 600 for an insured mortgage, along with the down payment rules a lender applies at approval, screens out a lot of risk before a mortgage is ever written, which is part of why a sudden foreclosure wave has not been a Saskatoon pattern even through past rate increases.
A rising interest rate environment or local job losses would eventually show up in that court process before it showed up in any Saskatoon-specific headline count. Get your hand-reviewed valuation from Joel Dyck.