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Real Estate  

Housing starts rebound

Housing starts in Kelowna have again rebounded slightly from some of the lowest totals seen over the past two years, although the six-month trend tells a different story.

There were a total of 66 new homes under construction last month, compared to only 51 during the same period last year. The number of single detached homes (46) is very similar to numbers from last year (43). What contributed to the uptick in construction were the number of multiples under construction in Kelowna (20), compared to only eight in 2012.

Vernon starts were down slightly from levels reported in June 2012, but the number for both single-detached homes and multiples were very comparable.

The Kamloops area recorded far fewer actual housing starts in June of 2013 than last year, dropping from 137 starts in 2012 to only 24 this year.

In Prince George, June housing starts were up compared to the previous year with higher levels of multiple family starts accounting for the increase.

The trending numbers released today show 743 units in June, compared to 800 in May over a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

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