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Saskatoon new housing prices fall more than any other Canadian area

Saskatoon saw a 0.3 per cent decline in its fifth consecutive month of falling prices for new housing. Lower negotiated selling prices drove the change.
Saskatoon saw a 0.3 per cent decline in its fifth consecutive month of falling prices for new housing. Lower negotiated selling prices drove the change. File / Global News

Saskatoon appears to be home to a slowing housing market. The latest data from Statistics Canada shows a 0.3 per cent decrease in new housing prices in January compared to the previous month.

The city saw the largest month-to-month decrease of Statistics Canada’s 21 identified areas in that time period. Saskatoon’s prices for new homes have been declining for five consecutive months.

READ MORE: Unsold homes and condos are piling up in several Canadian cities: CMHC

The combined region of Saint John, Fredericton and Moncton saw a 0.2 per cent decrease.

“Builders in both areas reported lower negotiated selling prices as the main reason for the decline,” according to the report released Thursday.

Canada’s New Housing Price Index crept up 0.1 per cent, following a 0.1 per cent increase in December. Higher pricing in Vancouver and the Toronto-Oshawa regions was the biggest contributing factor.

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