CMHC bullish on Kamloops construction sector despite down 2017
KAMLOOPS — The Canada Mortgage and Housing Corporation says its look at the 2017 home construction market in Kamloops is a positive one, considering total starts were down.
658 new starts were recorded by CMHC last year, a six per cent decrease from 2016’s total.
But Market Analyst Taylor Pardy says while new apartment projects were cut in half last year, all other segments were up markedly, including the key single family sector.
“If we break it down by single detached and multi-unit dwellings, what’s interesting is the amount of single detached home construction, and how that increased significantly in 2017 while the multi-unit segment moderated somewhat,” said Pardy.