There is good new for the province’s construction industry.
According to data from the Canadian Mortgage and Housing Corporation (CMHC), urban housing starts in the province during the month of July increased by 506 per cent, compared to July of last year.
This represents the highest percentage increase in the country.
“This is an incredible increase in July housing starts, which is good news for the province’s construction sector and economic recovery in Saskatchewan,” Trade and Export Development Minister Jeremy Harrison said in a press release.
“It’s more proof that Saskatchewan is weathering the external economic headwinds of the COVID-19 global pandemic and is in a solid position for a strong economic recovery.”
In the first seven months of 2020, Saskatchewan’s housing starts were up 81.8 per cent when compared to the same period in 2019. That is also the highest percentage increase among the provinces.
In July 2020, housing starts on single family dwellings increased by 67.1 per cent (from 76 to 127 units), and multiple units increased by 1,361.5 per cent (from 39 to 570 units).
