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
1,202
Saskatoon & Region Home Builders' Association

Saskatoon & Region Home Builders' Association

The voice of the residential construction industry in Saskatoon and region.

😎Are you a current or future homeowner? Check out a compiled list of current Housing Incentive Programs on the SRHBA website.🏠️Housing incentive programs are intended to assist homebuyers in the purchase of their home. There are various programs provided by each level of government. There are also opportunities to access co-operative housing support programs offered by not-for-profits in the private sector. Additionally, there are several programs that current homeowners may be eligible to enroll in.👍️Take advantage of these resources and find the right program for you!🔗 Visit saskatoonhomebuilders.com/housing-incentive-programs to learn more! ....#homebuyers #homesearch #FirstHome #homerenovation #renovation #newconstruction #dreamhome #newhome #HomeImprovement #construction #dreamhouse #newbuild #Saskatoon #saskatchewan #yxe #saskatoonhomes ... See MoreSee Less
View on Facebook
Hey friends! I did a little crazy thing this past few months… hoping to raise a million bucks for the YWCA Saskatoon. Can you help a sister out? ❤️🤗❤️👇🏼Discover the cozy charm of Sunny the She Shed, highlighted in the latest issue of Saskatoon Home Magazine!☀️You can check out the article starting on page 23 online at: issuu.com/saskatoonhomemagazine/docs/shm_summer2024/1?fr=sMWQwZjcxNDM4NTgOr get your physical copy here at the YWCA.We would like to give a special thanks to Amanda Soulodre for the coverage.Purchase your tickets now to win Sunny or take home a $25,000 cash prize instead, visit www.ywcasaskatoon.com/sunshinecottage/#YWCASaskatoon #yxelocal #Saskatoon #HopeLivesHere ... See MoreSee Less
View on Facebook

3 weeks ago

Saskatoon & Region Home Builders' Association
A recap of #CHBAHomeBuildingWeek SRHBA staff, board directors, and members had a fantastic time at CHBA’s Home Building Week in May discussing issues, efforts, and innovations impacting residential construction in Canada.🏡 The last day of the event consisted of the National Awards of Housing Excellence, where a total of eight SRHBA Members achieved finalist status and two members, Mavrik Home Builders and Haven & Co, took home awards!🏆️ It was a fantastic week of learning, networking, celebrating, and most importantly, discussing all things housing. We look forward to seeing continued growth, collaboration, and excellence in Canada’s residential construction sector. #ResidentialConstruction #Homebuilding #Housing #CanadaHousing #Saskatoon #SaskatoonHousing #YXE ... See MoreSee Less
View on Facebook
Saskatoon has a goal and an opportunity. The goal is to build 22,000 new residential units within the Corridor Growth Area, which is part of Saskatoon’s Corridor Transformation Plan. The opportunity is getting more than $41 million from the federal government’s Housing Accelerator Fund (HAF) to help us reach this goal. To access that money, Saskatoon City Council must approve zoning amendments, which we support. #housingaffordability #sustainablecities #urbanplanning #saskatoon #saskatoonhousing #yxe #yxecc #yxerealestate #socialgood #repost #showyoursupport #vote ... See MoreSee Less
View on Facebook