Housing starts building momentum - Kelowna News - Castanet.net
Housing starts building momentum
by Contributed - Story: 73732
Apr 11, 2012 / 9:11 am
Housing starts were up in Kelowna for March compared to the same month last year.
Canada Mortgage and Housing Corporation (CMHC) reports 44 Kelowna area housing starts for March compared to 31 housing starts in March of 2011.
Both single-detached and multi-family starts increased from last March's levels.
Paul Fabri, a CMHC Senior Market Analyst says single detached homes have been the the focus of new home construction this year.
"Detached home starts totaled 82 units in 2012 compared to 66 during the same three month period last year. Builders of multi-family housing have continued to favour smaller, home owner-oriented projects rather than larger, apartment condominium projects."
Kamloops, Vernon and Penticton housing starts were also higher compared to March 2011 levels.