CMHC optimistic about future housing starts

Canada Mortgage and Housing Corporation reports that Kelowna area housing starts totaled 60 homes in June 2011, decreasing from 131 homes the same month a year ago.

Builders started 42 single-detached homes in June. Fewer multifamily housing starts accounted for most of June’s lower level of construction compared to a year ago.

“Part of the reason for the lower level of multi-family starts this June compared to last was that rental apartment construction pushed up housing starts in June 2010,” explained CMHC market analyst Paul Fabri.

With the inventory of new, completed and unoccupied detached and multi-family homes moving lower, CMHC forecasts higher levels of new home construction during the second half of 2011.

Kamloops, Vernon and Penticton area housing starts in June were also down from levels recorded in June 2010.

Nationally, the seasonally adjusted annual rate of total housing starts in June increased to 197,400 units from 194,100 units in May.

In British Columbia, June’s seasonally adjusted rate of urban housing starts moved lower to 21,200 units from 29,300 units in May.


We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Fernie Beybladers let it rip!
Fall Community Job Fair
West Kootenay/Boundary candidate numbers up slightly over 2011
Tragic end to Slocan suspect search
Christmas workshop returns
Seeking a balance to Kelowna parking demand conflicts
VIDEO: Port partners looking to a bright future in Prince Rupert
Cartolina revitalizes Nelson heritage building
Red tape threatens Balfour beach transfer

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 17 edition online now. Browse the archives.