The cost of building a new house. It’s an interesting way to monitor differences in the major markets across the country.
StatsCan does a monthly report on how much people are paying for new builds. This does not look at the re-sale market. It is only new construction.
There are only five markets in Canada where the price of building a new house is going down and, for the first time in a while, neither major market in Saskatchewan is on the list.
Regina saw an ever so slight increase in the cost of a new house. Saskatoon saw no change between November and December. That is a bit unusual for the Bridge City which has been experiencing declining prices since September of 2015. But it also might be a signal that the tide is turning.
Saskatoon builders saw the prices they could get for a new home fall by 1.6 per cent in the past year. That’s the largest decline in the country but now that we have one month with no change, it might be a sign that the erosion is ending.