Kamloops Housing Starts Remain Steady, CFJC News
This article was written by James Peters of CFJC News and appeared on their website on January 13th, 2016.
Kamloops — The final numbers are in for 2015, and the Kamloops new home construction market performed almost exactly as well as it did in 2014.
According to the Canada Mortgage and Housing Corporation, a total of 523 new units were started last year, just five more than the year previous.
CMHC Market Analyst Taylor Pardy says don’t expect big changes in that number any time soon.
“The outlook for new construction in Kamloops is expected to be positive for the 2015-2017 period in general, with total housing starts remaining steady,” said Pardy adding, “new housing construction will be supported by a combination of low mortgage rates, population growth, and a balanced re-sale market”
Pardy also indicated that stability is very positive, especially considering the uncertainty much of the rest of Canada is seeing right now.