Housing starts in Kelowna for September

Kelowna’s strengthening resale market continues to support a stable demand for new homes of all dwelling types.

Housing starts in the Kelowna Census Metropolitan Area (CMA) were trending at 1,204 units in September compared to 1,220 units in August, according to Canada Mortgage and Housing Corporation (CMHC).

The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“The trend measure for total housing starts remained steady in September. Kelowna’s strengthening resale market continues to support a stable demand for new homes of all dwelling types,” reported Sarena Teakles, CMHC senior market analyst.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of thehousing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The stand-alone monthly SAAR was 1,256 units in September, compared to 1,007 units in August.

Actual housing starts in Kamloops and Vernon were higher in September 2014 compared to last year.

This boost in housing starts has pushed year-to-date figures in Vernon over year-earlier levels. The total count of 2014 starts in Kamloops, however, remained below the number recorded last year.

Across northern British Columbia, year-to-date actual housing starts data revealed pockets of heightened new home construction activity. Areas of note included Fort St. John, Dawson Creek and Terrace. In Prince George, a decline in the number of multiples starts throughout the year has resulted in fewer new homes underway compared to the same period a year ago.


Just Posted

Westbank First Nation reports increase in building activity

2017 was the fourth busiest year for building on WFN reserves since 2005

Kelowna company supports Cops for Kids

Boyd Autobody and Glass in Kelowna, West Kelowna and Penticton donates to charity

One fatality in Highway 97 collision in Vernon

Two vehicles involved in crash that has halted traffic

Kelowna woman only Canadian to train in Danish sailing program

A Kelowna sailor compares her life at sea to manning an old… Continue reading

Okanagan Sun juggle coaching staff

Kelowna football club makes a move within its coaching ranks

What’s happening

Find out about events happening in your community this weekend

World’s fastest log car made in B.C. sells for $350,000 US

Cedar Rocket auctioned off three times at Barrett-Jackson Co., netting $350,000 US for veterans

Thunderbirds ground Rockets

A week after a 6-2 win in Kent, WA, the Rockets fall to Seattle Friday in WHL action

Bad timing: Shutdown spoils Trump’s one-year festivities

Trump spends day trying to hash out a deal with Senate Minority Leader Chuck Schumer

RCMP nail sex toy thief

Shop owner plays a role in arrest

Ice-cream-eating bear draws controversy

An Alberta Wildlife Park posted a video this week of one of their bears going through a Dairy Queen drive-through

Fernie, RCMP go to court over city log books in fatal ammonia leak probe

Log books center stage in clashing of investigations between the city and RCMP

B.C.’s biggest pot plant planned for Oliver

Co-founder Tony Holler said the 700,000 sq. ft. facility would produce 100,000 kg of pot per year

High-end whisky seized in B.C. bar raids

Raids end in seizures at Victoria, Nanaimo and Vancouver whisky joints

Most Read