Housing Starts Down In Saskatoon

For the first half of 2009 the housing starts in Saskatoon have fallen by a whopping 78%. We are down to 342 new houses in Saskatoon from 1574 new houses in Saskatoon started in the first 6 months of 2008. Multiple family starts dropped an astounding 93% from 754 to only 53 in the first 6 months this year while single family homes dropped from 820 in 2008 to 289 in 2009.

The decline has to do with many factors, but the overall economic downturn is a big part of that but our slowing of new housing in Saskatoon also has a lot to do with following one of the busiest years in history. Many builders were also trying to get rid of last year’s inventory as well as there are still many vacant new homes in Saskatoon. This helps the existing homes for sale in Saskatoon as the inventory of new homes in Saskatoon is starting to clean up.

Houses for sale in Saskatoon have been reduced in number in June with many more sold signs popping up. June did see more housing starts than in earlier months with 116 single family starts, but still down 28% from last June. Regina has also seen a decrease in new housing while Moose Jaw, Prince Albert, and Yorkton saw increases in houses being built.

Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.

This entry was posted on 27. July 2009 at 05:49 and is filed under Canada Real Estate, International Real Estate, News, Canda Real Estate News, Saskatoon News, Saskatchewan Real Estate, News, Current Market, Buyers, Saskatoon Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.