In a survey released yesterday, Canada Mortgage and Housing Corporation (CMHC) states that both Regina and Saskatoon saw an increase in housing starts. The multi-family unit production compensated for the slower pace of single-detached homes.
o 59 single detached home starts, down 18% from October 2009
o 36 multi-family starts, triple the 12 multiple starts from a year ago
o 590 single-detached units were started, a 22% increase over last year.
o 426 multi-family units were started, up 61% from the first 10 months of 2009
- There was a total of 171 housing starts in October
o 121 single detached housing starts, an 11% reduction from last year
o 50 multi-family units, almost double last year’s 28 units
o Saskatoon builders have broken ground on 508 multi-family units, easily surpassing the 117 units that were started in the same period last year.
Saskatchewan’s economic strength is reflected in the elevated pace of housing starts in both Regina and Saskatoon. The renovation market has also been very strong, with permits up 31% in October and 3% year to date. With two months left to go, we are well on track for 2010 to be one of the top three years for housing starts in a decade.
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