The Saskatoon & Region Home Builder’s Association says there was broader economic uncertainty to start the year, but it was a strong beginning for Saskatoon’s new housing market.

New home sales rose 28.4 per cent compared to the first quarter last year exceeding the 10-year-quarterly average. As well there was a 96.4 per cent year-over-year increase in housing starts. The Association says its Q1 2025 Saskatoon Market Overview shows that the 707 units in Q1 is an all-time high.

The organization credits tight resale inventory, improved affordability conditions and stabilizing mortgage rates as driving confidence for buyers as well as cautious optimism for builders. The average monthly mortgage payment for a new single family home has declined 17.2 per cent from its peak in 2023.

By the numbers: there were 289 new home sales in the first quarter of 2025, a 28.4 per cent increase year over year, there were 541 building permits in the same time frame which is a 174.6 per cent increase compared to the year prior. In Saskatoon 32.2 per cent of income is needed to cover homeownership costs and for Regina that figure is 26.1 per cent.