Saskatoon Housing Market Report Signals Stability Amid National Uncertainty

FOR IMMEDIATE RELEASE

August 6, 2025

 Saskatoon Housing Market Report Signals Stability Amid National Uncertainty
SRHBA cautions against rent control as data shows strong rental construction pipeline

 SASKATOON, SK – The Saskatoon & Region Home Builders’ Association (SRHBA) has released its Q2 2025 Market Outlook Report, offering a cautiously optimistic view of Saskatoon’s housing market. The report highlights growing momentum in the new housing sector, a resilient local economy, and relative affordability, positioning Saskatoon as a standout performer amid national market instability. It also presents timely insights into purpose-built rental construction, in light of recent calls for provincial rent control measures.

“The market continues to show encouraging signs of stability, especially when compared to many other Canadian cities,” said Nicole Burgess, CEO of the SRHBA. “We are seeing growing confidence in new home purchases, supported by a low unemployment rate and a strong, commodity-driven economy that positions our region well for long-term growth.”

Sales of new single-family homes have increased by 10.4 percent year over year, as buyers turn to new construction to meet their needs in response to persistently low levels of resale inventory. “We’re seeing momentum build in both new construction and sales as market conditions draw more buyers toward new homes,” said Burgess. “With resale inventory remaining low, it is critical that we maintain a steady pipeline of diverse housing options to meet demand across the spectrum.”

At the same time, Saskatoon is experiencing a record volume of rental construction, with 2,644 purpose-built rental units currently underway, the highest in the city’s history. “Favourable financing and strong immigration trends over the past few years helped fuel this activity,” said Burgess. “As population growth begins to moderate, it will be important to closely monitor absorption rates and ensure a healthy mix of supply for both rental and homeownership.”

In this context, the SRHBA is urging policymakers to carefully consider the implications of rent control. “Adding rent control to a market poised to absorb a historic volume of new rental units could lead to serious unintended consequences, including discouraging future rental investment and reducing long-term supply,” said Burgess. “The end result could be a rental crisis rather than a solution.”

Saskatoon continues to benefit from economic stability and forward-looking policy decisions. Provincial support, such as the permanent PST rebate on new homes priced under $550,000, is helping make homeownership more attainable. In addition, the federal government has announced a new GST rebate for first-time homebuyers on eligible homes up to $1 million, which will apply retroactively from May 27, 2025, pending royal assent.  “With the right policy environment in place, Saskatoon has the potential to lead the country in housing innovation and growth,” said Burgess. “But we need to maintain balance, avoid reactive decisions, and stay focused on long-term solutions that keep housing attainable and communities thriving.”

The full Q2 2025 Market Outlook Report is available upon request or can be accessed at here.

For media inquiries, please contact:

Nicole Burgess
CEO, Saskatoon & Region Home Builders’ Association
ceo@saskatoonhomebuilders.com

The post Saskatoon Housing Market Report Signals Stability Amid National Uncertainty first appeared on Saskatoon & Region Home Builders' Association.