New housing prices are falling in many Canadian cities year over year, but Regina and Saskatoon are bucking the trend. Let’s take a look at some of the factors behind rising new home prices in Saskatchewan’s two largest census metropolitan areas (CMAs).
New housing prices on the rise in Regina and Saskatoon in 2025
In Regina, new home prices rose 3.5% year to date in August 2025, compared with 0.1% growth during the same period a year earlier.
Meanwhile, new home prices in Saskatoon rose 2.9% year to date in August 2025, following a 1.1% decline over the same period one year earlier.
Population growth outpacing new home building in Regina
Builders in Regina reported a lack of available residential land, which has put upward pressure on new home prices. Shortage of land in the Regina municipality has also pushed builders to the surrounding cities, including Pilot Butte and White City.
Land shortages act as a deterrent to increasing the supply of new homes. According to the New Housing Market Report, 2024: Experimental estimates, 113 new dwellings were completed per 1,000 persons of population growth in Regina from July 2021 to July 2024, indicating an existing supply shortage in this CMA.
Supply shortage can also be seen in the availability of new homes at a given time. According to the Canada Mortgage and Housing Corporation (CMHC), the inventory of completed and unsold homes declined by almost one-third (-31.0%) year over year in Regina in August 2025.
Brisk resale market leading buyers into new home market in Saskatoon
Saskatoon’s busy resale market has led buyers to turn to the new home market.
According to the Canadian Real Estate Association, the benchmark price of a single-family home (resale) increased 8.2% year over year in Saskatoon in August 2025.
Semi-detached homes increasingly popular in Regina
According to builders surveyed in Regina, rising new home prices have boosted the popularity of semi-detached homes in the CMA.
This change in buyer preference can be seen in the number of new home starts reported by the CMHC, with semi-detached homes accounting for almost one-fifth (19%) of all single-family home starts year to date as of July 2025, compared with 9% during the same period of 2024.
Provincial government offering sweet incentives for secondary suites
High mortgage rates and house prices in Regina and Saskatoon prompted some buyers to seek potential income streams when buying a new home through the construction of secondary suites, which have become more popular, as reported by builders.
With increased land costs, home designs that allow space for secondary suites inside the home (such as bi-level and modified bi-level) rather than a separate attached or detached structure are most popular.
In January 2024, Saskatchewan introduced a secondary suite incentive grant program designed to help buyers offset some of the costs of adding these units to their homes, in an effort to increase availability of rental units, improve housing affordability, and generate supplemental income for homeowners.
To learn more about new housing prices in Canada, check out our latest monthly New Housing Price Index release in The Daily.
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Contact information
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