Housing starts are expected to slow in Saskatchewan this year and in 2016, according to the latest outlook from Canada Mortgage and Housing Corp.

CMHC says lower oil prices and high inventory levels will moderate housing demand in the province over the next two years, with housing starts forecast to fall 21.3 per cent in 2015.

The federal agency’s second-quarter forecast shows Saskatchewan’s single-detached housing starts will range between 3,040 and 3,430 units this year and between 3,060 to 3,570 units in 2016.

Despite higher demand for condominium apartments in some local markets, multi-unit starts are forecast to range between 2,900 and 3,300 units in 2015 and between 2,800 and 3,300 units in 2016.

Sales through the Multiple Listing Service are expected to range between 11,300 and 13,100 units this year and between 11,400 and 13,300 units in 2016.

The average MLS price is forecast to range between $282,000 and $304,500 this year and between $279,000 and $315,400 in 2016.