Paul Martin's Business Update - June 10th, 2014

Paul Martin's Business Update - June 10th, 2014

This province’s housing market is in the midst of a shift. Home builders are just as sensitive as anyone to talk of affordability and higher home prices. So they’re responding by turning their focus to the constructing multi-family units while starts of single family units is down a bit in the two major cities.

A report on the state of the new build market after five months from CMHC also shows one other difference - a slowing of new starts in Regina while Saskatoon continues to see increases.

Regina builders have started 400 fewer units this year compared to last. That includes both single and multi-family as both categories showed declines. Saskatoon, on the other hand, posted a five-month increase of roughly 500 units.

The reason for the variation is not clear and may not be as dramatic as these numbers would suggest as CMHC also tracks a six-month trend and, on this measure, Regina builders actually picked up the pace in May after a slow start to the year as they managed their way through selling existing inventory.

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