Home builders in this province have answered the call for more units.
Canada has been focused on picking up the pace of new home construction for several years as high interest rates put a damper on the industry after COVID. And, while the picture has improved lately, not all parts of the country have responded in the same way.
In Ontario, for example, housing starts are falling. But a new CMHC report tracking new starts for the first ten months of the year show Saskatchewan builders have basically doubled the number of multi-family starts they’ve undertaken this year compared to the same period a year ago.
Single family starts are 35-percent ahead. When you average them, it shows the province is more than 50-percent ahead of the pace we were seeing last year. And the bulk of the starts – virtually all of them – are in the two major cities.
Nationally, starts in October were down nearly 20-percent compared to September, principally on declines in Ontario and BC. Saskatchewan was up 70-percent for the month.
