Housing construction starts slow in April

By James Peters
May 9, 2016 - 6:52pm Updated: May 10, 2016 - 4:42am

KAMLOOPS — It was a slow month of April for the new home construction market in Kamloops.

According to the Canada Mortgage and Housing Corporation, Kamloops saw 37 starts last month, compared to 59 in the same month last year.

But the year-to-date totals are still strong, with the city trending 47 per cent higher than this time in 2015.

Senior Market Analyst Taylor Pardy says the multi-family sector has led the way.

"In the first four months of 2016 new construction of multi-unit homes has been the driver as builders are working to meet consumer demands. The large jump in multi-unit starts in the first four months is a result of a large condominium project getting underway, along with townhouse condominiums and new duplexes as well," said Pardy.

Pardy notes Kamloops should maintain a steady market for new homes throughout the year, evenly split between single-detached and multi-family units.

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