New housing side of the Saskatoon real estate market oblivious to downturn

It seems that nobody has bothered to tell the new housing side of the Saskatoon real estate market about the “downturn” and the pending doom that some are predicting for Canadian housing.

Just last week, Canada Mortgage and Housing Corporation (CMHC) released their preliminary housing starts data for Septemberof 2010 which shows housing starts in Saskatoon increasing 45% for the month of September compared to the same month last year. Builders started construction on 191 units in the Saskatoon region last month. The year-to-date numbers are even more impressive, jumping to 1,755 from 780 at the same point in 2009 when housing starts were had fallen below long term averages.

This week, Statistics Canada released their New House Price Indexthat tracks price trends through August of this year. While prices remained steady in August, compared to July, they increased 3.8% from August of last year.

CMHC’s housing starts report is here. Statistics Canada Housing Price Index is here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Vidorra


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