Saskatoon passed $1 billion in permit values in 2012.
The biggest part of job growth is without a doubt real estate related.
Both of the above rates are down about 5% from the peak, but most jurisdictions would love to have these numbers right now.
The numbers show that if not for real estate related employment, there really is no job boom in this city. To me, that is very interesting, as we are leading the nation in population growth. Do we need more homes built because more people are moving here? And are more people moving here because we need more workers to build and renovate homes? The numbers suggest this is happening to some extent.A few things to watch this year are population growth, home inventory and credit conditions.
If some of you are have not heard, Montreal is sitting at 14 months of inventory, Toronto's real estate market is wobbling, and Vancouver's real estate market is basically crashing. I wonder if this will have any impact on a place like Saskatoon.