Housing starts way up year-over-year

The latest numbers show that Saskatchewan is among the top provinces in Canada for urban housing starts, with December’s numbers up 86.4 per cent year-overyear from December 2022. The province’s housing starts numbers place Saskatchewan second among the provinces. In 2023, urban housing starts in Saskatchewan increased by 11.5 per cent, compared to the same period in 2022. Saskatchewan ranked second among the provinces in percentage change for this number as well. According to Statistics Canada, building permits were up 83.9 per cent in November 2023 over November 2022 (seasonally adjusted),which is the highest increase in Canada. Investment in building construction continues to grow, reaching $493 million for October 2023 (seasonally adjusted). Statistics Canada’s Labour Force Survey showed employment in Saskatchewan reached 600,200 in December 2023, adding 22,100 jobs year-over-year. This ranked Saskatchewan second among the provinces in terms of percentage change at 3.8 per cent. Saskatchewan ended the year with a seasonally adjusted unemployment rate of 5.0 per cent, below the national average of 5.8 per cent. Housing starts represent the number of new housing builds where construction has begun. These numbers are calculated by the Canada Mortgage and Housing Corporation.

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