Housing starts are trending up in Prince George after a slow October.
Senior Market Analyst Taylor Pardy says rising numbers are stemming from an active resale market.
“Listing have declined relative to sales, which has led to new activity in the home construction sector in order to satisfy demand for housing in Prince George… and so the result has been much higher numbers of housing starts relative to last year.”
Pardy says this has also led to stronger MLS price growth.
“New construction for both single-detached and multi-family units are up substantially over the 2014 levels. So far in 2015, there have been 154 single detached starts compared to 121 in 2014.”
On the multi-family side, there were 99 starts- compared to just 25 over the same time frame last year.
Total starts are up about 73% in 2015.
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