Housing starts slow down in Saskatoon: CMHC
SASKATOON – July housing starts in the Saskatoon Census Metropolitan Area (CMA) were almost less than half as many compared to last year, according to a preliminary report released by Canada Mortgage and Housing Corporation (CMHC) on Monday.
Construction on 193 units was started in July 2014 compared to 371 units in July 2013.
Broken down, only 69 multi-family units and 124 single-detached homes were started in the Bridge City CMA last month.
CMHC said there were 326 preliminary housing starts in Saskatoon in June.
“The lower pace of construction was attributed to fewer multi-family units following the strong performance in the first half of the year,” said Pichu Kalyniuk, CMHC market analyst.
So far this year, Saskatoon is still in the green with 1,952 total starts compared to 1,465 the same time last year.
Saskatchewan’s total urban starts were at 3,938 at the end of July, up slightly from 3,630 in 2013.
The Canadian housing agency’s preliminary housing starts for the country last month were at 16,758, up from July 2013.