Kelowna Housing Market Outlook - CMHC

Kelowna Highlights:

• Demand for new and existing homes is forecast to pickup in 2011.  Stronger employment growth will boost demand through 2012.
• Sales of existing homes are expected to increase this year, supported by favourable interest rates, strong price competition among sellers and an ample supply of listings available for sale.
• Expect existing home prices to edge up by three per cent as demand improves and the supply of listings is drawn down.
• Kelowna area housing starts are projected to move higher this year with a forecast of 1,025 units which represents a seven percent increase from 2010 levels.  Both detached homes and multi-family consturction is forecast to strengthen in 2012.

• Read More

Soucre Photo, Graph and Text:  Canada Mortgage and Housing Corporation (CMHC)

Have a look at CMHC August 24, 2011 release:

Canada Housing Market to Remain Steady in 2011