Real Estate
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.
Read more Real Estate News
- Home of the Week: Downtown Toronto condo aimed at entry buyers
- Home of the Week: King West digs aimed at entry buyer
- Canadian home sales rise in April
- Size and noise worries hamper False Creek condo sale
- Home of the Week: Rathnelly house was architect prof's pet project
- Home of the Week: A home in the Republic, rejigged
- Video: How this older West Toronto home sold for over asking
- On Site: Builder serves up Kitchener condos with a Hogtown feel
- On Site: Infill town homes offer an elegant entry to Forest Hill
- Price adjustment finds buyer for waterfront condo
- Bidding war for affordable Toronto townhouse unit
- Would-be buyers try letters, photos for chance at east Toronto home
