Housing starts up over 100% in Vernon

A Realtor's biggest complaint in this market is that there is not enough inventory. When a buyer chooses 5 or 6 houses to see typically 3 or 4 of them are sold and there is a good chance they will go into competition for the one they choose to offer on. However, help is on the way. Year-to-date, there have been 373 housing starts of all types in Vernon, up from 166 during the first seven months of last year. Elsewhere in the region, Kelowna had 195 housing starts in July, up from 179 during the same month in 2015, while starts went from 32 to 137 in Kamloops. Demand is fueled by increased migration from Alberta and the coast, historically low interest rates, low vacancy rate and a strong economy. rate.

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