City housing starts ahead of 2009 pace
Kyle, C 2010, City Housing Starts Ahead of 2009 Pace, The Star Phoenix, 9 December 2010
The number of housing starts in the city last month dropped from November 2009, however more than two-thirds as many homes have been started in Saskatoon so far this year than last, new data showed Wednesday.
Canada Mortgage and Housing Corp. (CMHC) said local homebuilders started work on 256 homes in the Saskatoon region in November, a 29.1 per cent drop from housing starts during the same month last year.
Of November's work, 104 were single-detached homes -- a 41.2 per cent drop from 177 such starts during November 2009. The remaining 152 units that began construction last month were multiple-family -- a 17.4 per cent drop from November last year.
But between the beginning of January and the end of November, a total 2,182 homes have been started, 67.2 per cent higher than the 1,305 homes started in Saskatoon during the same period in 2009, according to the CMHC.
Most of the new homes this year are single-detached, with 1,522 starts. That is a 51.6 per cent increase over the 1,004 such starts recorded during the first 10 months of 2009.
Multi-family home starts have reached 660 this year, more than doubling the 301 multi-family unit starts during the same period last year.
"This is a much improved year for builders across Saskatchewan, particularly in Regina and Saskatoon," said Michael Fabiyi, the CMHC's senior market analyst for Saskatchewan.
"The province's strong economy continues to foster job and wage growth, maintaining the elevated pace of housing starts witnessed thus far."