SnapStat Okanagan Update: New Home Construction

New home construction in the Kelowna CMA (Census Metro Area) fell 35 per cent year-over-year in September. The decline was the result of a steep drop in multiple unit starts compared to 2012.

This is EXTREMELY POSITIVE news when you consider two key questions:

What is the most overbuilt segment (softest demand,) in the Okanagan?

Multiple Unit Condos.

What is the most UNDERbuilt segment (greatest demand) in the Okanagan?

Single family.

Last SnapStat:

Single detached starts were 30 per cent higher year over year.

This is a market heading in the right direction.

Info based on BC Real Estate Association

Patrick Murphy 250 486 2529 call or text anytime

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