June Housing Starts Drop in Penticton
The latest housing starts have been released and construction is not as hot as it was this time last year.
The Canada Mortgage and Housing Corp indicates Penticton has less single detached homes under construction compared to a year ago.
In June 2011 Penticton had 12 units under construction while only five have begun this year.
In Kelowna, Kamloops and Vernon increases in single detached homes were reported.
Paul Fabri, Senior Market Analyst with the CMHC says there was a reduced demand for resort homes and second residences over this time last year.
So far this year Penticton has seen construction on 46 homes, down slightly from last year.
For more information visit www.cmhc.ca/housingmarketinformation or call 1-800-668-2642
Anita Sthankiya -Penticton