CMHC Reports Housing Starts up in Hot Kelowna Real Estate Market March 2016

Hi All, Just in case you weren’t sure that the Kelowna Housing Market isn’t hot right now, Housing starts in the Kelowna Census Metropolitan Area (CMA) were trending at 1,904 units in March, up 14.6% from 1,662 units in February, according to Canada Mortgage and…

Hi All,

Just in case you weren’t sure that the Kelowna Housing Market isn’t hot right now, Housing starts in the Kelowna Census Metropolitan Area (CMA) were trending at 1,904 units in March, up 14.6% from 1,662 units in February, according to Canada Mortgage and Housing Corporation (CMHC).

Kelowna Housing Starts Graph Mar 2016

The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts, which is the annual total that would result if the pace of construction in the current month continued for an entire year.

“Actual housing starts in the Kelowna CMA ended the first quarter of 2016 strong with an emphasis on multi-unit homes,” said Taylor Pardy, CMHC Senior Market Analyst. “Increasing starts activity in the multi-unit segment is the result of builders responding to a favourable financing environment, increasing migration to the area and tighter rental market conditions adding to the demand for both condominium and rental options,” he added.

Kind Regards

Trish and Tanis Real Estate

Tel 250 863 8989

 



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Trish & Tanis
trishandtanis@gmail.com
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