http://www.leaderpost.com/business/housing+starts+regina+august+cmhc/11351306/story.html
Housing starts in Regina up 20% in August, CMHC
“Regina’s total housing starts are expected to end the year lower than in 2014, as weaker economic conditions and elevated inventories of new homes continue to add downward pressure to new construction over the remaining months of 2015,” said Lai Sing Louie, CMHC’s regional economist for the Prairies and Territories.
But Stu Niebergall, CEO of the Regina and Region Home Builders’ Association, noted that this year’s housing construction activity is very close to the long-term average.
“We are still tracking towards plus 1,500 housing starts for the year, which is below the five-year average, but only slightly below the 10-year average. Although we are seeing less velocity in the new home market and some head winds as a result of provincial and national economies, we still have a healthy and robust new housing market,” Niebergall added.
By contrast, in Saskatoon, the number of total starts dropped sharply in August to 148 in August, down 66 per cent from 434 total starts in August 2014. Once again, unlike Regina, multiples saw the biggest drop, plummeting 85 per cent to 52 from 251 in August 2014.
Saskatoon’s total starts of 1,487 to the end of August are down nearly 38 per cent from 2,386 during the first eight months of 2014. Multiples are running about 40 per cent behind last year’s pace at 798, compared with 1,315 during the same period last year, while singles are down about 36 per cent to 689 from 1,071 for the same period last year.
By Bruce Johnstone, Leader-Post September 10, 2015