Q3 2020 New Housing Market for Saskatchewan Working with Municipalities a Key Ingredient to Success - Saskatoon & Region Home Builders' Association

News & Publications


Q3 2020 New Housing Market for Saskatchewan Working with Municipalities a Key Ingredient to Success

Saskatoon & Regina, SK (November 19, 2020) >> The Regina & Region Home Builders’ Association (RRHAB) and the Saskatoon & Region Home Builders’ Association (SRHBA) have released the first joint New Housing Market Overview report for the province of Saskatchewan. Covering the third quarter of 2020, this new report is a shared collaboration between the two associations in the province which were already preparing reports of their local area on an quarterly basis. This type of reporting also provides a better picture of the impact of the pandemic on the new housing market and what 2021 may hold for Saskatchewan. The report includes key figures and trends of building permits for the northern and southern halves of the province.

While new home construction continues to be below the 10-year average, Saskatchewan’s residential construction sector is seeing their first year of growth since 2016. Demand for new homes has increased, as people are spending most of their time at home. The pandemic, coupled with the rise of remote workers, has dramatically shifted housing preferences and a desire for space and upgrades.

“For most of us, we are spending more time at home. Many households are using and perceiving their homes in a new way and often, if that doesn’t translate into a move, it means renovations,” comments Chris Guérette, CEO of the SRHBA. “Saskatchewan’s newly announced Home Renovation Tax Credit is certainly arriving at a good time, especially when meshed with the announcement of our new Certified Professional RenoMark Renovator designation, which will ensure professionals are used to work on homes.”

In both cities, housing fundamentals are expected to improve as activity in the service sector, infrastructure projects, and increased stability in the energy sector continue to attract new migrant. Still, having strong relationships with local decision makers is key to ensuring a sharp eye on affordability. “I cannot help but notice that in the communities where our industry has a strong working relationship with the municipality, housing tends to be more affordable and attainable, supply is much closer to demand, and the housing market is more balanced”, explains Stu Niebergall, President & CEO of the RRHBA.

Over the short term, the provincial economy is facing challenges however, long term fundamentals remain strong.

Click here for a PDF of the full report.

 

###

 

For more information and comments, please contact:

Stu Niebergall, President & CEO
Regina & Region Home Builders’ Association
mobile: 306.546.5221
s.niebergall@reginahomebuilders.com
www.reginahomebuilders.com
Chris M. Guérette, CEO
Saskatoon & Region Home Builders’ Association
mobile: 306-292-8619
cguerette@saskatoonhomebuilders.com
www.saskatoonhomebuilders.com

Categories

Cover for Saskatoon & Region Home Builders' Association
1,198
Saskatoon & Region Home Builders' Association

Saskatoon & Region Home Builders' Association

Building Homes, Building Communities, Building the Province

The Saskatoon & Region Home Builders' Association (SRHBA) is ecstatic to hear that 30-year amortization periods for insured mortgages on new home construction will now be possible for Canadians coast to coast!🏠 This was announced by the federal government this morning and was made in effort to assist first-time homebuyers. This measure will: ✅ Allow more Canadian’s the opportunity to afford a home.✅ Assist builders with increasing housing supply.✅ Increase housing affordability nationwide.✅ Alleviate pressure on rental supply.This measure will take effect starting August 1, 2024 and will be transformative for Saskatoon and Region's housing market. To learn more about this exciting initiative, visit saskatoonhomebuilders.com/unlocking-the-door-to-home-ownership-announcement-of-30-year-amortizati... ... See MoreSee Less
View on Facebook
Happy Easter from your SRHBA team!💚#HappyEaster #celebrate #easter #home #holiday ... See MoreSee Less
View on Facebook

3 weeks ago

Saskatoon & Region Home Builders' Association
🏆✨Throwback Thursday✨🏆The 32nd Annual Housing Excellence Awards was truly a night to remember! Check out that good looking group of winners!🎉We are so proud of our members and everything that they do to advance Saskatoon and region’s residential construction industry!🏡Learn more about all of our amazing SRHBA members by visiting members.saskatoonhomebuilders.com/directory/ 📸: TrueTouch Media#housingexcellenceyxe #awardsshow #housing #excellence #yxe #yxehousing #housingdesign ... See MoreSee Less
View on Facebook
View on Facebook
Out of 900 total entries over 48 categories, the Saskatoon & Region Home Builders' Association is thrilled to see that eight of our members have been selected as finalists in several categories for the 2024 CHBA National Awards for Housing Excellence. This prestigious awards ceremony celebrates top new homes, renovations, community developments, and residential marketing in Canada. The winners will be announced on May 10, 2024 at an awards gala during CHBA's Home Building Week in Canada in Saint John, NB. We would like to congratulate the following members for this amazing achievement! To read the full announcement from CHBA, please visit www.chba.ca/2024/03/13/2024-chba-national-awards-for-housing-excellence-finalists-named/. Congratulations again!Best Interior Decorating (Model/Show Home)Haven & Co, Saskatoon, SK: “Lakehouse” Best Kitchen Renovation – $70,000 to $100,000Fresco Interiors Design Group Inc, Saskatoon, SK: “Modern Tuscan Kitchen” Best Basement RenovationFresco Interiors Design Group Inc, Saskatoon, SK: “Urban Lounge Basement Suite” Best Detached Production Home Under 1,800 square feetDream, Saskatoon, SK: “The Emerson” Best Detached Production Home 1,800 to 2,100 square feetHometown Homes, Saskatoon, SK: “The Treehouse” Best Detached Production Home 2,401 to 2,800 square feetLexis Homes, Saskatoon, SK: “The Eclipse” Best Detached Custom Home Under 2,500 square feetMavrik Home Builders, Saskatoon, SK: “The Escher” Best BathroomBella Vista Developments, Saskatoon, SK: “Sasky Italia Eclectic” Best Bedroom/SuiteHometown Homes, Saskatoon, SK: “The Treehouse” Maison Design + Build, Saskatoon, SK: “Heritage Modern” Best Custom or Renovated Net Zero HomeMaison Design + Build, Saskatoon, SK: “Heritage Modern Beauty” ... See MoreSee Less
View on Facebook