New housing starts hit a 30-year record high in February in Saskatoon according to the Star Phoenix. In February alone developers have started work on 175 new housing units. The new developments in Saskatoon are almost split evenly between single-family homes and condo-style homes. According to the CMHC (Canada Mortgage and Housing Corp) the 89 single-detached home starts are the highest amount they have seen since 1978. The total number of 175 new home starts are 94 per cent higher than in February 2007. Since January the total number of combined new home starts is 376 which include both single-family and multi-family developments. This is 68 per cent higher that last year in the same time frame. According to CMHC the demand for housing in Saskatoon is at an all time high. The housing market is a direct affect of the Saskatchewan economy and the growth it is experiencing. There is a large labor shortage in Saskatoon and with more and more people relocating to Saskatoon to fill that our housing market will continue to grow. If you have been thinking about getting into the Saskatoon real estate market dont want any longer, contact me today and I will be more than happy to provide you detailed information on the current Saskatoon and surrounding area real estate market.
Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.