The number of new houses being built in Saskatoon rose during August, according to Canada Mortgage and Housing Corporation (CMHC).
The federal agency said there were 194 starts during the month in the Saskatoon census metropolitan area, compared to the 148 starts in August 2015.
READ MORE: New housing prices in Saskatoon drop for 2nd straight month
Of those, 88 were single-family homes and 106 multi-family dwellings. That compares to 96 and 52 respectively for the same period last year.
Goodson Mwale, CMHC’s senior market analyst for Saskatchewan, said although starts were up in August, economic factors are affecting the market.
“Weaker economic conditions, higher resale supply, and elevated new home inventory have slowed the pace of total housing starts so far this year compared to 2015,” Mwale said in a statement.
READ MORE: Record August for Saskatoon housing market
Up to the end of August, construction started on 1,293 units, down from the 1,487 starts over the same period last year.
Comments