Saskatoon posts strongest numbers for housing starts in decades for 2011

In 2011, Saskatoon and Regina both saw housing starts increase to levels not seen since the early 1980's, according to a senior market analyst for the Canadian Mortgage and Housing Corporation (CMHC).

Builders in Saskatoon started construction on 1,608 single-family homes and 1,386 multi-family dwellings for a total of 2,994 homes, up from 2,381 last year to mark an annual gain of roughly 26 percent.

Meanwhile in Regina, construction got underway on 958 single-family homes and 736 multi-family dwellings to close the year with 1,694 starts and a year-over-year gain that also reached 26 percent.

"Saskatchewan's expanding economy and labour market continued to attract elevated numbers of migrants into the province's centres. This bolstered housing demand in 2011 and fuelled a pace of starts rarely seen across the province,"  Michael Fabiyi explained in the CMHC media release.

Read the coverage in today's Star Phoenix. See CMHC's Preliminary Housing Start Data report.

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call of email me.Get the most current market intelligence with our FREE Market Snapshot including prices of homes recently sold in your area. Get it here, now.

Norm Fisher

Royal LePage Vidorra

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