The Prince George housing market continues to move at a steady clip when it comes to new starts.
According to the Canada Mortgage Housing Corporation, 41 new homes broke ground in August.
Analyst, Taylor Pardy told MyPGNow.com that’s way down from the same time last year, but there’s a specific reason for that.
“That’s relative to a 177 from last year and the big difference there was a major apartment/condo project that got underway, which boosted the numbers last August.”
“Usually, 41 housing starts for the month is fairly characteristic of Prince George in the past few years.”
Pardy said the year-to-date number sits at 223, which is down about 30% from last year, which is mostly due to the same project that broke ground.
As for cities of similar size like Kamloops and Kelowna, Pardy states even those communities are seeing differing results.
“When I think about Kelowna for example, they are seeing a pullback in housing starts, which was anticipated this year based on changes in population growth. Kamloops has kind of been a bit of a different story as housing starts remain relatively strong ending off last year and this year they seem to be doing ok,” added Pardy.
The September housing start numbers are expected to be released in mid-October.