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Victoria Housing Starts & Sales Rising

CMHC reports solid housing starts for Victoria year-to-date. They say, “Low inventories of completed and unsold homes and an active resale housing market are evidence that population growth and low mortgage interest rates are supporting the demand for new and existing homes.”

However, February indicates a jump from 152 last year to 222 this year. In fact, year to date, single detached is up from 87 to 130.  This is an important category because it indicates young families starting to get traction in the economy and the housing market.

According to the Victoria Real Estate Board, sales have increased 42.4% compared February 2015, indicating the market is heating up considerably.

View the latest housing starts numbers for Victoria here.

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