Regina and area home builders, who will build close to 1,500 homes this year, will start slightly fewer homes next year, as the new units are absorbed and more resale homes come onto the market, according to Canada Mortgage and Housing Corp.
Total housing starts in the Regina area are expected to increase about 10 per cent from 1,347 units in 2010 to 1,490 units in 2011, but fall back about five per cent to 1,425 in 2012, said CMHC’s fall 2011 Regina housing market outlook released Friday.
“In 2012, a strengthening economy characterized by job growth, rising incomes, and sustained in-migration will maintain housing demand and result in similar activity (to 2011),” said Michael Fabiyi, CMHC’s senior market analyst for Regina.
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