Saskatoon's housing starts, or homes under construction, ended 2016 slightly higher than in November, but well below numbers set at the end of the previous year.
Total housing starts in Saskatoon finished December at 1,909 units, which was above the previous month's 1,894 units. However, the Canada Mortgage and Housing Corporation says weaker economic conditions and elevated inventory caused housing starts to fall well below December 2015's 2,293 units.
Senior Market Analyst for Saskatchewan Goodson Mwale says there was some positive news in the house construction sector. He says single-housing starts tapered off at the end of 2015, but rose nearly 9% in 2016.
As for 2017, Mwale says the housing market will largely depend on job creation. He says if employment levels rise over the next 12 months, there will be a rise in home construction for 2017 and 2018.