Home starts trend upwards

Housing starts in the Vernon area for September were higher than the same month in 2012

  • Oct. 11, 2013 9:00 a.m.

Housing starts in the Vernon area for September were higher than the same month in 2012.

Statistics from the Canadian Mortgage and Housing Corporation (CMHC) show there were 12 single-detached and one multiple starts in September for a total of 13.

In September 2012, there were only seven starts, all single-detached homes.

Year-to-date figures for Vernon are also up over 2012.

There have been 97 single-detached starts this year along with 45 multiple starts for a total of 142. That’s up from 2012 when there were 118 starts through the same time period, including 89 single-detached homes.

The Kelowna Census Metropolitan Area was trending at 824 units in September compared to 771 units in August.

The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)of housing starts.

“The detached home sector led Kelowna area housing starts, trending higher in September. The increase in single-detached home construction brought the stand-alone monthly SAAR more in line with the housing starts trend,” explained Paul Fabri, CMHC’s senior market analyst for Kelowna.

The trend measure for multiple-family starts was stable, also edging slightly higher in September.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market.

In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.


The stand-alone monthly SAAR was 864 units in September 2013, compared to 640 units in August 2013.



Just Posted

Vernon photographer captures emotion

It was when Davis Ross moved to Vernon that he said his passion for photography was ignited.

Rock slide forces rural Keremeos residents to leave their homes

Witness describes boulders bigger than her car

Okanagan-Shuswap weather: goodbye sun, hello rain

Environement Canada forcasts clouds and rain for the weekend and beyond

Army of support behind Morning Star saleswoman battling cancer

GoFundMe helps empower Sue Folliott’s fight

Okanagan College to develop wellness strategy for drug use

The Kelowna campus has 28 employees trained in the use of naloxone.

Protective human chain forms around Victoria mosque for Friday prayer

Islanders stand arm-in-arm to show support in aftermath of New Zealand shootings

Wildlife activists slam B.C. business, clubs for ‘wolf-whacking’ contests

Chilcotin Guns, Creston Valley Rod and Gun Club and West Kootenay Outdoorsmen Club under fire

UPDATE: Destructive blaze in West Kelowna

A unit of a condo complex is on fire in West Kelowna

‘Families torn apart:’ Truck driver in fatal Broncos crash gets 8-year sentence

Judge Inez Cardinal told court in Melfort, Sask., that Sidhu’s remorse and guilty plea were mitigating factors

AquaVan comes to Okanagan Science Centre

200-litre mobile touch tank allows you to get up-close with marine invertebrates

Boy who went missing from park remains largest probe in Victoria police history

The four-year old Victoria boy went missing without a trace on March 24, 1991

WestJet sticking with Boeing 737 Max once planes certified to fly

WestJet had expected to add two more of the planes this year to increase its fleet to 13

No joke: Kelowna’s first zero-waste grocery store to open April 1

Farm Bound Zero Waste has announced its opening date

Motorcyclist dies after three-vehicle crash on old Island Highway

Accident happened at 12:15 p.m. Friday near Country Club Centre in Nanaimo

Most Read