Saskatchewan experienced nation-leading growth in housing starts for the second consecutive month in July, according to data released by the Canada Mortgage and Housing Corporation (CMHC).
July Housing Start Data
The latest figures from the Canada Mortgage and Housing Corporation indicate that housing starts in Saskatchewan increased by 23.9 percent in July. This growth positioned Saskatchewan as the provincial leader in housing starts for the period. The data suggests an ongoing trend in residential construction activity within the province.
Year-to-Date Performance
From January to July, Saskatchewan's total housing starts reached 4,204 units. This represents a 15 percent increase compared to the 3,656 units recorded during the same seven-month period in the previous year. This year-over-year growth indicates a sustained expansion in the construction sector.
Urban Centre Activity
Regina and Saskatoon, the province's two largest urban centres, also reported increases in their housing starts. In Regina, housing starts grew by 36 percent year-to-date, with 1,223 units initiated. Saskatoon saw a 29 percent increase year-to-date, totaling 1,775 units. These figures contribute significantly to the province's overall growth.
Provincial Context
This sustained activity in housing construction aligns with the province's economic development initiatives. The growth in housing starts is a metric used to assess the health of the construction sector and its capacity to support population growth. The Saskatchewan Government News release highlights these developments as indicators of a growing housing market.
Source: Saskatchewan Government News