June housing starts are down
Jul 10, 2012 / 10:52 am
Housing starts in Kelowna were down for June of this year compared to the same month in 2011.
The Canada Mortgage and Housing Corporation (CMHC) reports only 51 area housing starts in June compared to 60 last year.
CMHC Market Analyst, Paul Fabri says detached home starts were on par with levels recorded in June 2011.
"Single detached homes have been the focus of new home construction in 2012. Reduced demand for resort homes and second residences has contributed to lower levels of multiple-family starts compared to previous years."
In Penticton area starts also decreased from a year ago. While in Vernon housing starts increased slightly.
Condominium and rental apartment construction boosted Kamloops housing starts in June 2012. Detached home starts were also up from the previous year.
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