Home builders in Regina started work on 57 housing units in January, down 41 per cent from the 97 housing starts during the same period in 2015, according to Canada Mortgage and Housing Corp. (CMHC).
Both single-family and multi-family starts were down in January, with 29 single-detached housing starts last month compared with 42 during the same period in 2015. Multiple unit starts fell to 28 starts last month from 55 during January 2015, CMHC said in its monthly housing starts report Monday.
Housing starts in the Regina are were trending at 1,309 units in January, compared with 1,528 in December, according to the six-month moving average of the monthly seasonally adjusted annual rates of total housing starts.
The trend in total housing starts moved lower in January, after a slightly higher pace of single-detached construction was more than offset by a declining trend in multi-family production, said a CMHC’s senior market analyst for Saskatchewan.
In the current environment where economic and demographic drivers of housing demand remain weak, local builders will continue to focus on drawing down their inventory of complete and unsold units in 2016.