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Victoria Housing Starts Continue Climbing

CMHC reports housing starts in Victoria were trending at 2,743 units in May, compared with 2,438 in April. These are big numbers for Victoria and reflect booms of previous decades. That said, a few months don’t constitute a year. In addition, the volume is needed to address rising sales prices. Recently, the inventory in Victoria was pegged at 1.9 months which is extremely low. Single detached numbers – 87 in May – represent a tremendous reversal from last year’s 39 starts.

CMHC’s Victoria report is here.  

CMHC’s BC report is here.

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