Paul Martin's Business Update - December 13th

Paul Martin's Business Update - December 13th

Tracking the housing market in this province is nearly a full-time occupation. There are a variety of information sources who track these figures – everyone from builders to governments to banks.

What we’re beginning to see is a market where the builders are finally catching up to demand. New starts in the province has slowed bit when you compare September to October to November, yet when you look at it over a longer period, we’re trending upward again, especially in the multi-family category.

So, demand is not decreasing but the capacity of builders has improved as evidenced in the latest report on the cost of constructing a new home.

Traditionally, Saskatoon has been one of the more competitive markets with little to no change in the cost of new construction. Regina on the other hand was one of the national leaders in terms of increases. But now we’re seeing the two cities on par – both showed a half point increase in October. However both were behind Calgary and Winnipeg on the Prairies and roughly equal to inflation compared to a year ago.

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