The number of single detached housing starts in Prince George this year is similar to last.
The Canada Mortgage and Housing Corporation reports there were 25 housing starts last month compared to 29 last July. Year to date, there have been 95 new family homes started. There were only 94 in that same time frame last year.
Senior Market Analyst Taylor Pardy says consistent numbers like these are a good sign.
“If you’re looking at those single detached numbers right now, it signals to you that the market is relatively steady and builders are keeping product coming onto the market in a fairly predictable pace,” he says, “we look at other aspects of the market, like the existing home market. You see a similar story in Prince George and we’re seeing steady price increases and a steady pace of housing starts right now.”
If you look at total starts, which include semi-detached, rows, and apartments, it might seem more alarming. By this time last year, there were 212 starts, compared to just 122 in 2016. Pardy calls these number volatile, and points to just one condo project that began last April for the difference.
“Overall, the market has been relatively steady it’s just this year compared to last year there hasn’t been a large apartment condo project that’s got under way.”
There were no semi-detached, row, or apartment starts in July. To date, there has been 95 single detached, two semi-detached, four row, and 21 apartment starts.