Housing starts climbed in Saskatoon

Coles Notes Multi Family Units May 2010 - 8 May 2011 - 74 Single Family Units May 2010 - 118 May 2011 - 102 Housing starts climbed in Saskatoon Saskatoon’s economy continues to boom and nowhere is this reflected more than in the number of housing starts in the city according to new figures released by the Canadian Mortgage and Housing Corporation (CMHC) Wednesday. The biggest jump in new construction was in multiple-family units. There were 74 new starts in May compared to eight in May 2010. Overall, there have been 530 new starts in 2011, up over five times from the same period last year.

There was a slight decrease in the number of single family units, with 102 starts in May 2011, down from 118 a year ago. In 2011, there have been 586 new housing starts, down 8.3 per cent from 2010.

Total starts for 2011 are up 50 per cent from 2010 even though many forecasters predicted a slowdown in residential construction sector.

Saskatoon & Region Home Builders’ Association doesn’t expect there to be a slowdown and says new housing starts in Saskatoon should continue to grow substantially through the year and into next year.
© Copyright (c) Shaw Media Inc.