Saskatoon’s New Housing Market Maintains Strong Momentum Through Q3 2026

FOR IMMEDIATE RELEASE

November 10, 2026

Saskatoon’s New Housing Market Maintains Strong Momentum Through Q3 2026
New home absorptions reach their strongest quarterly level since 2019 as construction shifts toward ground-oriented housing.

SASKATOON, SK – The Saskatoon & Region Home Builders’ Association (SRHBA) has released its Q3 2026 Saskatoon New Housing Market Outlook Report. The report highlights continued strength in residential construction, the strongest quarterly new home absorption activity since 2019, a significant increase in building permits and important shifts in housing supply.

Q3 2026 at a Glance

• 1,185 new residential units permitted, up 62.6% from Q3 2025. Multifamily permits doubled to 817 units.
• 398 new home absorptions (completed and sold units), up 25.6% year-over-year and the strongest quarterly result since 2019. Single-family homes accounted for 330 of those units.
• 1,054 housing starts, up 1.9% from the same quarter last year.
• 4,373 units under construction as of September, up 6.0% year-over-year, following a record high of 4,874 in July.
• $590,000 median price for an absorbed single-family home, virtually unchanged from a year earlier.

A Changing Mix of Housing

Ground-oriented multifamily housing is gaining momentum. Row housing starts more than tripled, from 62 to 209 units, while semi-detached starts increased from 22 to 60. Apartment starts declined 29.6% to 425 units.

Development remains concentrated in Saskatoon’s Northeast and Southeast, which together accounted for nearly 69% of quarterly housing starts.

Rental Supply Reaching the Market

Of the 1,381 homes completed during the quarter, 914 were rental units, compared with 380 a year earlier. Vacancy rates have begun to rise, and asking rents are easing in some properties as tenants gain more choice.

What to Watch

Completed but unabsorbed inventory reached 324 units in September, its highest level in 41 months. However, inventory remains below the 2008–2017 monthly average of approximately 444 units and is considered manageable given current market activity.

Affordability remains a significant challenge. The 20th percentile price for absorbed single-family homes increased 5.4% to $530,000, reflecting continued pressure at the lower end of the new-home market. Rising land, servicing, labour and construction costs continue to limit builders’ ability to lower prices.

Financing conditions also remain uncertain following the Bank of Canada’s October increase in its policy rate to 2.50%, while limited availability of serviced land could constrain future development in some areas.

“Saskatoon’s new housing market continues to demonstrate remarkable strength, with the highest quarterly number of completed and sold new homes since 2019. We’re also seeing an important shift toward ground-oriented housing, while a significant volume of rental units is reaching completion. As we move into 2027, affordability, construction costs, serviced land supply and the pace of rental absorption will be important factors to watch.”

Nicole Burgess, CEO
Saskatoon & Region Home Builders’ Association

Read the Full Report – Q3 2026 Saskatoon New Housing Market Outlook

For questions or additional information, please contact Nicole Burgess at nicole@saskatoonhomebuilders.com or 306-955-5188.

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